Three ERGO Versicherungsgruppe insurance units ratings raised to 'AA-' - Fitch |
|
|
|
Published
:
Thu, 26 Jul 2007 11:50
|
MUMBAI (Thomson Financial) - Fitch Ratings said it raised the insurer financial strength ratings of three ERGO Versicherungsgruppe AG's insurance units, Hamburg-Mannheimer Versicherungs-AG, Victoria Lebensversicherung AG and DKV Deutsche Krankenversicherung AG, to 'AA-' from 'A+'.Fitch said the upgrade reflects ERGO's strong integration into Munich Re, and ERGO's central role in the group's strategy, reinforced by the growth potential in life insurance and developments in health insurance.The ratings agency also noted ERGO's strict underwriting discipline and profitability focus in its non-life insurance's business, resulting in strong contribution to overall profitability, even without the one-off tax effect.Fitch also assigned 'A+' insurer financial strength rating to Vorsorge Lebensversicherung AG, another ERGO insurance subsidiary.The outlook on the ratings is stable.Fitch has an 'A+' issuer default rating for ERGO Versicherungsgruppe.TFN.newsdesk@thomson.comnpr/ssaCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
|
|
|
|
|
|
|
| Stock
Quotes * |
|
NASDAQ
|
|
2792.28 |
22.57 (
0.81 %)
|
| SYMBOL (
2012-01-19 ) |
| LAST |
CHANGE
|
|
CARNIVAL
(
11:35am )
|
|
2017.00 |
46.00 (
2.42 %)
|
|
WHITBREAD
(
11:35am )
|
|
1662.99 |
33.99 (
2.09 %)
|
| SYMBOL (
2012-01-19 )
|
| LAST |
CHANGE
|
|
IBM
(
12:34pm ) |
|
181.50 |
0.43 (
0.24 %)
|
| SYMBOL (
2012-01-19 )
|
| LAST |
CHANGE
|
|
|
Print this Story
Munich Re affirmed at 'AA-'; outlook stable - Fitch 