A.M. Best Comments on Allianz's Proposed Restructuring and Proposed Cash Offer for Riunione Adriatica di Sicurta S.p.A. Shareholders.OLDWICK, NEW JERSEY Oldwick is an unincorporated area within Tewksbury Township in Hunterdon County, New Jersey, United States. The area is served as United States Postal Service ZIP Code 08858. As of the United States 2000 Census, the population for ZIP Code Tabulation Area 08858 was 177. , U.S.A. -- A.M. Best Co. has commented that the proposed restructuring within the Allianz Aktiengesellschaft (Allianz) (Germany) group and the proposed buyout of the minority shareholders of Riunione Adriatica di Sicurta S.p.A. (RAS (1) See network access server. (2) (Remote Access Service) A Windows NT/2000 Server feature that allows remote users access to the network from their Windows laptops or desktops via modem. See RRAS and network access server. ) (Italy), which is to be completed in the first half of 2006, is unlikely to result in a change to Allianz's ratings. The transactions include the conversion of Allianz AG into an SE (Societas Europaea) company and the establishment of a holding company for the German insurance operations. The cash offer for RAS shareholders will increase goodwill in Allianz's consolidated balance sheet consolidated balance sheet A balance sheet in which assets and liabilities of a parent company and its controlled subsidiaries are combined, thereby presenting balance sheet items for the parent and its subsidiaries as if they were a single firm. by approximately EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 3 billion (USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 3.6 billion), part of it in respect of value for RAS' in-force life portfolio. The cash offer will be financed through a mixture of senior and subordinated debt as well as internal funds. However, A.M. Best does not expect a significant increase in Allianz's consolidated financial leverage. A.M. Best will reassess the impact of the increase in goodwill on Allianz's prospective consolidated capitalisation once the transactions have been finalised. For Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com. |
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