LONDON -- Standard & Poor's CreditWire 7/22/98 -- Standard & Poor's today affirmed its double-'A'-minus financial strength and counterparty credit ratings of R+V Versicherung AG (RVV). The rating reflects the R+V Insurance Group's (RV, or the Group) diversified operations and strong distribution capabilities, as well as an extremely strong capitalization. Partially offsetting these strengths are the competitive market environment in Germany as well as the somewhat high expense levels. RVV is the reinsurance operation as well as the group's holding company. The main operating entities of RV are R+V Allgemeine Versicherung AG (RVA) and R+V Lebensversicherung AG (RLV). The rating applies to RVV only, although it is heavily influenced by the strength of RVA and RVL. MAJOR RATING FACTORS: --
