Talanx: HDI Seguros Mexico receives highest-possible local rating from Standard & Poor's

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.

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 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.