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BULLETIN: Germany-based Talanx Group Ratings Unaffected by neue leben Acquisition Aug 04
Standard & Poors, Aug 2004
Abstract
FRANKFURT (Standard & Poor's) Aug. 16, 2004--Standard & Poor's Ratings Services said today that the ratings and outlook on the core members of Germany-based Talanx primary insurance group (TPG; AA-/Stable/--) and on its intermediate holding company Talanx AG (A-/Stable/--) are unaffected by TPG's announcement that it will purchase a majority stake (60% minus one share) in Germany-based neue leben group (neue leben Holding AG; not rated). Neue leben is predominantly a life insurer with gross premiums written of -723 million at year-end 2003. The acquisition is consistent with TPG's objective to grow its private and personal lines businesses, and significantly enhances the group's existing bancassurance activities via an exclusive distribution agreement with several savings banks. The transaction is still subject...
Companies mentioned in this report are: Talanx AG
Action: Bulletin
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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