LONDON (Standard&Poor's) May 19, 2004--Standard&Poor's Ratings Services said today it assigned its 'A-' long-term counterparty credit and insurer financial strength ratings to Denmark-based Tryg Forsikring A/S (Tryg) and Norway-based Vesta Forsikring AS (Vesta), core entities of the TrygVesta group (TVG). The outlook is stable. "The ratings are based on TVG's strong competitive position in Scandinavia and the enhanced profitability and reducing risk appetite resulting from positive management action," said Standard&Poor's credit analyst Paul Oates. Offsetting this is TVG's poor operating performance from 2000-2002 and its impact on capitalization levels. The stable outlook reflects Standard&Poor's expectation that profits generated by TVG over the next few years will be used to restore the capital
