Fitch Reaffirms Stuttgart Lebensversicherung A.G.
Outlook for Stuttgart remains stable Stuttgart, September 21, 2010 the international rating agency Fitch Ratings attested a.G. also in this year a high financial strength of the Stuttgart-based life insurance and confirmed the ‘A’ on September 16, 2010-rating of the Swabian insurer. Fitch considers the Stuttgart in the Outlook of the insurer financial strength ratings than ‘stable’. As reasons for the renewed award of the coveted seal of financial strength, the rating agency called the strong recovery of the investment results of the Stuttgart in 2009 compared to 2008. The net interest of the insurer recovered again in 2009 to 4.56% (2008: 3.46%) and were thus above the market average of 4.2%. The solid cost – and risk-results of the Stuttgart, which can be reflected, for example, in the low compared to the market average administrative expense ratio of 2.46% remain crucial for the good rating for Fitch. Also highlighted is the balanced mix of new business.
Map report also attested to the Stuttgart in the recent German life insurer m-rating (08/2010, no. 746-747) has very good services and this acknowledged with the award of his industry’s coveted ‘mm ‘label. Succeeded in the insurer even to strong six ranking positions (2009: 15th / 2010: 9th place) to advance. The latest rating results confirm once again the Stuttgart in their strategy. Consistently through the cooperation with free agents and brokers with a range of competitive, top – rated products to put on quality.
Tags: insurance & pension, money