FRANKFURT (Standard&Poor's) Nov. 16, 2005--Standard&Poor's Ratings Services said today it assigned its 'A-' long-term counterparty credit and insurer financial strength ratings to Germany-based non-life insurer Gothaer Allgemeine Versicherung AG (Gothaer Allgemeine). The outlook is stable. The ratings on Gothaer Allgemeine reflect its role as a core entity within Germany-based composite insurance group Gothaer, and are based on the group's strong competitive position, strong capitalization, and strong operating performance in non-life insurance. These strengths are partially offset by the relatively weaker financial profile of the group's life and health businesses and moderate expense efficiency. "We expect that Gothaer's management will continue to pursue a profit-oriented strategy backed by conservative financial management," said Standard&Poor's credit analyst
