LONDON (Standard&Poor's CreditWire) April 18, 2000--Standard&Poor's today affirmed its double-'A'-plus long-term counterparty credit and insurer financial strength ratings on Switzerland-based Zurich Insurance Co. (Zurich; local currency rating, AA+/Negative/--; foreign currency rating, AA+/Negative/A-1+), and all ratings on related entities within Zurich Financial Services (ZFS; AA/Negative/--). For affected ratings, please call Standard&Poor's Ratings Desk on (44) 20-7826-3540, or see RatingsDirect, Standard&Poor's Web-based credit analysis system. The rating affirmations follow the announcement by ZFS that it plans to simplify its dual Anglo-Swiss holding company structure into a single Zurich-based group holding company. The likely costs and funding of the proposed unification will include a repurchase of up to US$1 billion of Allied Zurich PLC (not
