...January 30, 2024 FRANKFURT (S&P Global Ratings) Jan. 30, 2024--S&P Global Ratings said today that its ratings on Zurich Insurance Co. Ltd. (##/Stable/A-1+) and its related core operating subsidiaries are unaffected by the news that Zurich is exploring other solutions for its US$20.6 billion German legacy life insurance portfolio. Zurich stated today that it has been informed that Viridium (not rated) will not complete the transfer of this portfolio. Because we do not give credit for portfolio transfers before they are finalized, our ratings analysis is unchanged. In addition, we do not consider that the transaction would have had significant impact on our already very strong view of the group's capital position. In announcing the cancelled transaction, Viridium cited its current shareholder structure as the reason why the transaction could not be executed as planned....
