Best believes that the existing level of capital is adequate to support the company's strategy over the next two years; however, if BEST Re is to pursue its aggressive growth strategy as planned until 2007, further funds will be necessary to support the current level of risk-adjusted capitalisation
excellent level of capitalisation
as measured on a risk-based
The entitlement of shareholders on the register at the record date to receive Capitalisation
Issue Shares is based on the average middle market closing prices on the three days 2, 3 and 4 June 2010.
Best expects higher dividends paid to shareholders, thus limiting ZFS' ability to further improve capitalisation
through retained earnings.
The ratings reflect Winterthur Group's recovering capitalisation
driven by stabilisation and retention of earnings, despite the pressure on life business margins in core markets after almost completing its divestment programme.
The rating reflects the Club's improving risk-adjusted capitalisation
and strong performance, as well as strong support provided by Steamship Mutual Underwriting Association (Bermuda) Ltd (Steamship).
life market, with prospective capitalisation
stabilising at levels commensurate with the current rating.
The ratings reflect the companies' strategic importance to their ultimate parent, Allianz AG, their excellent business position in the Swiss market and stable capitalisation
and operating performance.