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BULLETIN: Swiss Life Announces Half-Year Results and Strategy Update Sep 02
Standard & Poors, Sep 2002
Abstract
Standard & Poor's Ratings Services said today that its ratings and outlook on Swiss Life/Schweizerische Lebensversicherungs- und Rentenanstalt AG (A/Negative/--) are unaffected by the company's strategy update and half-year results, published today. Swiss Life's announcement that it will strengthen its capital base (including a rights issue of between Swiss franc (SFr) 0.9 million ($0.6 million) and SFr1.2 billion), tighten its strategic focus on life insurance and pensions, and narrow its geographic spread is in line with Standard & Poor's expectations. The first-half results reflect investment market conditions and are also in line with expectations. The successful completion of Swiss Life's initiatives to reduce its dependency on capital markets and restore the long-term profitability of its core domestic business--including the introduction...
Companies mentioned in this report are: Swiss Life AG
Action: S&P Event
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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