Allianz Group's Ratings Affirmed; Lloyd Adriatico Outlook Pos; Cornhill&Elvia Outlooks Neg

LONDON (Standard&Poor's CreditWire) Dec. 22, 1999--Standard&Poor's today affirmed its long-term counterparty credit and insurer financial strength ratings on entities of the Munich-based international insurance group Allianz. At the same time, the outlook on group member Lloyd Adriatico SpA was revised to positive from stable, and the outlooks on Cornhill Insurance PLC, Elvia Lebensversicherungs AG, and Elvia Schweizerische Vers.-Gesell. were revised to negative from stable. The outlook on LifeUSA Insurance Co. (MN) remains positive, and the outlook on all other group members remains stable. (See list below for all ratings.) The ratings reflect Allianz's extremely strong business position in Europe, extremely strong capitalization, superior financial flexibility, and strong profitability. Partly offsetting these strengths is the more aggressive

...LONDON (Standard & Poor's CreditWire) Dec. 22, 1999--Standard & Poor's today affirmed its long-term counterparty credit and insurer financial strength ratings on entities of the Munich-based international insurance group Allianz. At the same time, the outlook on group member Lloyd Adriatico SpA was revised to positive from stable, and the outlooks on Cornhill Insurance PLC, Elvia Lebensversicherungs AG, and Elvia Schweizerische Vers.-Gesell. were revised to negative from stable. The outlook on LifeUSA Insurance Co. (MN) remains positive, and the outlook on all other group members remains stable. (See list below for all ratings.) The ratings reflect Allianz's extremely strong business position in Europe, extremely strong capitalization, superior financial flexibility, and strong profitability. Partly offsetting these strengths is the more aggressive use of capital going forward. Major rating factors: -- Extremely strong business position. Allianz enjoys an enviable position in the German...

Ratings Action