Standard & Poor’s Ratings Services has assigned its ‘AA-‘ insurer financial strength rating to Netherlands-based life insurer AEGON Levensverzekering N.V. (AEGON Leven). The outlook is stable.
The insurer financial strength rating on AEGON Leven is aligned with the existing ‘AA-‘ counterparty credit rating on the company. The ratings on AEGON Leven reflect our view on its core status to AEGON N.V. In our opinion, stand-alone characteristics include a very strong capital position that has been supported by interest-rate and equity risk reductions and what we view as a well-diversified competitive position. These positive factors are partially offset, in our opinion, by the difficult competitive environment in The Netherlands and its exposure to investment markets.
The stable outlook on AEGON Leven is aligned with that on AEGON. Any change in the rating or outlook on AEGON is likely to be mirrored by a similar change in the rating or outlook on AEGON Leven. The stable outlook on AEGON reflects our expectation that AEGON will maintain the strength of its balance sheet and the business and financial profile of its key U.S. operations.
Source : S&P Press Release
