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Research Update: Talanx Group Ratings Affirmed On Acquisition Of Poland-Based WARTA, Outlook Stable Jan 12
Standard & Poors, January 2012
Germany-based insurer Talanx has announced it will acquire 100% in Poland-based insurer Towarzystwo Ubezpieczen i Reasekuracji WARTA S.A. in cooperation with its strategic alliance partner Meiji Yasuda. We are affirming our 'A+' ratings on the core operating entities of Talanx Primary Insurance Group (TPG) and the 'A-' ratings on parent holding company Talanx AG. Although we believe that this transaction will put pressure on group capitalization, we expect TPG's capital adequacy to remain comfortably in the 'A' range in 2012, according to Standard & Poor's capital model, and to recover into the 'AA' range in 2013 at the latest. The stable outlook reflects our expectation that TPG will defend its strong competitive position, maintain its very strong investment strategy, and...
Companies mentioned in this report are: Talanx AG,HDI Haftpflichtverband der Deutschen Industrie VaG,HDI-Gerling Lebensversicherung AG,neue leben Lebensversicherung AG,HDI Direkt Versicherung AG,HDI-Gerling Industrie Versicherung AG,HDI-Gerling America Insurance Co.,HDI-Gerling Welt Service AG,HDI-Gerling Firmen und Privat Versicherung AG
Action: Outlook: Stable
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
Talanx AG,HDI Haftpflichtverband der Deutschen Industrie VaG,HDI-Gerling Lebensversicherung AG,neue leben Lebensversicherung AG,HDI Direkt Versicherung AG,HDI-Gerling Industrie Versicherung AG,HDI-Gerling America Insurance Co.,HDI-Gerling Welt Service AG,HDI-Gerling Firmen und Privat Versicherung AG