Talanx: Standard & Poor’s upgrades Warta again

The rating agency Standard & Poor’s (S&P) raises the “Insurer Financial Strength Rating” of the Polish insurance company TUiR Warta S.A. from “A” to “A+” with a stable outlook. The upgrading recognises Warta’s high strategic importance for the Talanx Primary Insurance Group and the robust operating earnings strength of the company.

With a rating of “A+”, Warta has achieved one of the best S&P ratings in Poland. The upgrade explicitly rewards the ongoing development of the company following the takeover by Talanx in 2012. “We are delighted by the positive rating decision by Standard & Poor’s. It provides concrete recognition of the strategic relevance Warta holds for the Group. Our goal is to generate 50 percent of our premiums for primary insurance abroad in future. Warta makes a tangible contribution to achieving this goal with its operational strength,” commented Torsten Leue, Member of the Board of Management of Talanx AG and Chairman of the Management Board of Talanx International AG.

TUiR Warta S.A. has only been part of Talanx since 1 July 2012. The Group took over the Polish insurer together with its Japanese partner Meiji Yasuda and today holds 75.7 percent of the shares. Warta is currently one of the leading Polish insurers in composite and life insurance with a current total of 3.2 million insurance policies.

According to statistics published by the Polish Financial Supervisory Authority, Talanx and its subsidiaries Warta and TU Europa is ranked in second place among insurance groups represented in Poland. After Germany, Poland is the second core market of the Group.

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.