Hannover, 1 October 2015
Standard & Poor's has awarded Talanx's Mexican subsidiary HDI Seguros S.A. de C.V., which has been assigned a rating for the first time, a national financial strength rating of "mxAAA". This is the highest possible rating normally given to private entities in Mexico. The outlook is assessed as "stable".
In accordance with its group rating methodology, Standard & Poor's evaluates HDI Seguros S.A. de C.V. as "strategically important" within the Talanx Primary Insurance Group. The foreign currency rating is assessed as "BBB+, Outlook Stable".
The company has been part of Talanx since 2009. HDI Seguros S.A. de C.V. is a property and casualty insurer employing more than 1,000 staff; its main concentration is on motor business, which accounts for 88 percent of gross premiums.
Along with Central and Eastern Europe, Latin America is a strategic target market for the Talanx Group. Over the medium term Talanx aims to generate half of its premium income in primary insurance from international markets.
About Talanx
With premium income of EUR 29.0 billion (2014) and more than 21,300 employees, Talanx is one of the major European insurance groups. The Hannover-based Group is active in some 150 countries. Talanx operates as a multi-brand provider with a focus on B2B insurance. The Group's brands include HDI, which operates in Germany and abroad, the global industrial insurer HDI-Gerling, Hannover Re, one of the world's leading reinsurers, Targo Versicherungen, PB Versicherungen and Neue Leben, the latter all specialized in bancassurance, the Polish insurer Warta, and the financial services provider Ampega. The rating agency Standard & Poor's has given the Talanx Primary Group a financial strength rating of A+/stable (strong) and the Hannover Re Group one of AA-/ stable (very strong). Talanx AG is listed on the Frankfurt Stock Exchange in the MDAX as well as on the stock exchanges in Hannover and Warsaw (ISIN: DE000TLX1005, German Securities Code: TLX100, Polish Securities Code: TNX).
You can find additional information by going to www.talanx.com.
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Disclaimer
This news release contains forward-looking statements which are based on certain assumptions, expectations and opinions of the Talanx AG management. These statements are, therefore, subject to certain known or unknown risks and uncertainties. A variety of factors, many of which are beyond Talanx AG's control, affect Talanx AG's business activities, business strategy, results, performance and achievements. Should one or more of these factors or risks or uncertainties materialize, actual results, performance or achievements of Talanx AG may vary materially from those expressed or implied in the relevant forward-looking statement.
Talanx AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors nor does Talanx AG accept any responsibility for the actual occurrence of the forecasted developments. Talanx AG neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.
