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Summary: Volkswagen Insurance Co. Ltd. Oct 11 Product Image

Summary: Volkswagen Insurance Co. Ltd. Oct 11

  • Published: October 2011
  • Standard & Poors

Abstract
Volkswagen Insurance Co. Ltd. (VICO), a wholly owned Ireland-based subsidiary of German carmaker Volkswagen AG (VW; A-/Stable/A-2), qualifies as a captive insurer under Standard & Poor's Ratings Services criteria. As such, the ratings on VICO are commensurate with those on its parent and reflect Standard & Poor's assessment of VICO as an integral part of VW's risk-management strategy. Further positive factors are VICO's strong capitalization and comprehensive reinsurance program. These strengths are partly offset by the company's reliance on reinsurance protection. The rating on VICO is higher than that on the Republic of Ireland (BBB+/Stable/A-2) as the company has virtually no exposure to Ireland, either in terms of assets nor liabilities (see 'Nonsovereign Ratings That Exceed EMU Sovereign Ratings: Methodology...

Companies mentioned in this report are: Volkswagen Insurance Co. Ltd.,Volkswagen AG
Action: Review

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Volkswagen Insurance Co. Ltd.,Volkswagen AG

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