- Language: English
- Published: December 2011
Summary: ERGO Versicherungsgruppe AG Jan 08
- ID: 2091786
- January 2008
- Standard & Poors
The ratings on the operating entities of Germany-based primary insurance group ERGO Versicherungsgruppe AG (collectively ERGO; core operating entities rated AA-/Stable/--) solely reflects their core status to Munich Reinsurance Co. (Munich Re; AA-/Stable/--). This status is based on ERGO's sizable contribution to Munich Re's premium income, a strong competitive position, and continued improvements in operating performance in line with Munich Re's expectations. These strengths are partially offset by the strategic challenge it faces to regain growth momentum and its relatively weaker competitive profile in individual life insurance, which is partly due to a lack of product innovation. ERGO represents an integral part of the Munich Re group's overall strategy. This is demonstrated by the growing integration of the primary insurance...
Companies mentioned in this report are: ERGO Versicherungsgruppe AG,Munich Reinsurance Co.
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ERGO Versicherungsgruppe AG,Munich Reinsurance Co.