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D.A.S. Legal Expenses Insurance Co. Ltd. Aug 07
Standard & Poors, August 2007
Strategic importance to the ERGO group, and ultimately to the Munich Re group Good competitive position, albeit in niche U.K. segments Moderate earnings track record Adequate capitalization The ratings on U.K.-based legal expenses insurance (LEI) underwriter D.A.S. Legal Expenses Insurance Co. Ltd. (DASUK) are driven by the company's strategically important status to the ERGO group (ERGO; and ultimately to Munich Re group (Munich Re; main entities are rated AA-/Stable/--)). The ratings also reflect DASUK's good competitive position, albeit in the relatively niche U.K. LEI market. These strengths are offset by marginal earnings and a marginal capital position. DASUK is wholly owned by D.A.S. Rechtsschutz-Versicherungs-AG (DASG; 'Api' unsolicited rating), the European leader in LEI. DASUK's strong working relationship with DASG and...
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Research Type: Full Analysis
D.A.S. Legal Expenses Insurance Co. Ltd.,Munich Reins America Inc.,Munich Reinsurance Co.,Munich Re America Corp.,Munich American Reassurance Co.,American Alternative Insurance Corp.,Europaeiske Rejseforsikring A/S (Unsolicited Ratings),Munich Reinsurance Co. of Australasia Ltd.,Great Lakes Reinsurance (U.K.) PLC,Hamburg-Mannheimer Sachversicherungs-AG,Munich Reinsurance Co. of Canada,The European Ins. Co. Ltd. (Unsolicited Ratings),ERGO Versicherung AG,Muenchener Rueck Italia SpA,New Reinsurance Co.,ERGO Lebensversicherung AG,Victoria Lebensversicherung AG,Munich Reinsurance Co. of Africa Ltd.,Princeton Excess & Surplus Lines Insurance Co.,Europaeische Reiseversicherung AG (Unsolicited Ratings),STU Ergo Hestia S.A. (Unsolicited Ratings),DKV Deutsche Krankenversicherung AG,ERGO Versicherungsgruppe AG,ERGO Direkt Lebensversicherung AG,D.A.S. Rechtsschutz Versicherungs AG,Munich Mauritius Reinsurance Co. Ltd.