MOODY'S REVIEWS RATINGS OF ZURICH INSURANCE GROUP FOR POSSIBLE DOWNGRADE
New York, 04-11-95 -- Moody's Investors Service placed under review for possible downgrade the Aaa insurance financial strength rating of Zurich Insurance Company, as well as other credit ratings within the Zurich Insurance Group. The review was prompted by Zurich's planned acquisition, along with Insurance Partners L.P., of Kemper Corporation, a major U.S. life insurance and asset management company, for approximately $2 billion. According to Moody's, the review will focus on the possible effects of this acquisition on the Zurich Insurance Group, as well as the risk aspects of Zurich's emerging financial and strategic profile.
Ratings under review are as follows:
Zurich Insurance Company -- Aaa insurance financial strength.
Alpina Insurance Company -- Aaa insurance financial strength.
Zurich Life Insurance Company of America -- Aa3 insurance financial strength.
Zurich Reinsurance Centre Holdings, Inc. -- A1 senior debt.
Zurich Insurance Company is the lead unit of a global insurance organization based in Zurich, Switzerland. The group reported consolidated assets of Sfr 79 billion, and capital and surplus of Sfr 10 billion at year-end 1993.
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