In the rating report, published last Friday, Standard & Poor’s underlines TPG’s “strong competitive position”, a “strong capitalization” and – for the first time – a “strong enterprise risk management” as the major supporting rating factors. The rating agency has thus upgraded TPG’s risk management from „adequate“ to „strong“. Herbert K. Haas, Chief Executive Officer of Talanx AG, said: "We are particularly proud that Standard & Poor’s considers our risk management now as strong. This assessment reflects the progress we have made in developing our internal capital model and implementing a group-wide risk management framework.”
With regard to TPG’s stable rating outlook Standard & Poor’s notes the expectation that the group “will defend and further foster its competitive strength”, based on its organic and acquisitive growth in 2012. The full Standard & Poor’s rating report is available on our Investor Relations website.
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 materialise, 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.