Rating of the group and its major subsidiaries
In recent months the Talanx Group and its companies again received excellent or very good ratings from the international rating agencies Standard & Poor’s (S&P) and A.M. Best. They can be distinguished between the “Financial Strength Rating”, which primarily assesses our company’s ability to meet obligations to customers – i.e. our policyholders –, and the “Issuer Credit Rating” or “Counterparty Credit Rating”, which provides investors with information from an independent source about a company’s financial strength.
Financial Strength Ratings of the Talanx Group and its subgroups Talanx Primary Group and Hannover Re
| Standard | A.M. Best | ||
| Grade | Outlook | Grade | Outlook |
Talanx Group 1) |
|
| A | Stable |
Talanx Primary Group 2) | A+ | Stable |
|
|
Hannover Re subgroup 3) | AA– | Stable | A | Positive |
2) This rating applies to the subgroup of primary insurers (Property/Casualty Primary Insurance and Life Primary Insurance segments of the Talanx Group) as a whole as well as its major core companies. 3) This rating applies to Hannover Re and its major core companies. The Hannover Re subgroup corresponds to the Non-Life Reinsurance and Life/Health Reinsurance segments of the Talanx Group. | ||||
On the basis of these ratings, the rating agencies categorize the financial stability of the Talanx Group as “Excellent” (A.M. Best) or “Strong” (Standard & Poor’s). S&P awarded the Reinsurance segment of the Talanx Group the second-highest possible rating of AA– (“Very Strong”), while the Primary Group was placed within the third-best rating category with an A+ (“Strong”). The outstanding competitive position and strong earnings power of the Talanx Group are highlighted as particularly impressive strengths. The rating of A (“Excellent”) awarded by A.M. Best corresponds to the second-best rating category with respect to both the Talanx Group and the Hannover Re Group.