A.M. Best Places Ratings of Wurttembergische und Badische Versicherungs-AG Under Review.OLDWICK, N.J. -- A.M. Best Co. has placed the financial strength rating of B++ (Very Good) and issuer credit rating of "bbb" of Wurttembergische und Badische Versicherungs-AG (WUBA WUBA Working Uniform Blue Alpha (USNA) ) (Germany Germany (jûr`mənē), Ger. Deutschland, officially Federal Republic of Germany, republic (2005 est. pop. 82,431,000), 137,699 sq mi (356,733 sq km). ) under review with negative implications. The rating actions follow the announcement of WUBA's planned acquisition of DARAG Deutsche Versicherungs- und Ruckversicherungs-AG (DARAG), a German medium-sized commercial insurer An individual or company who, through a contractual agreement, undertakes to compensate specified losses, liability, or damages incurred by another individual. An insurer is frequently an insurance company and is also known as an underwriter. . A.M Best believes that the acquisition of DARAG would provide WUBA with a good strategic fit as both companies target similar client groups. A.M. Best will evaluate the financing of the deal and its impact on WUBA's risk-adjusted capitalization capitalization n. 1) the act of counting anticipated earnings and expenses as capital assets (property, equipment, fixtures) for accounting purposes. 2) the amount of anticipated net earnings which hypothetically can be used for conversion into capital assets. , as well as the prospective dividend policy following the closing of the transaction. A.M. Best will discuss with WUBA's management how the company plans to integrate DARAG into the group; A.M. Best aims to resolve the under review as soon as possible. For Best's Ratings Best's rating A rating A.M. Best Co. assigns to insurance companies based on the company's ability to meet its obligations to its policyholders. , 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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