Agencies withdraw Ergo Leben ratings at carrier's behest

Rating agencies Standard & Poor's (S&P) and Fitch
have withdrawn their ratings for Ergo Leben, the life insurance
segment of Munich Re subsidiary Ergo, at the company's request,
they announced late last week (3 June).
S&P said the move reflected its revised opinion of the life
insurer as no longer central to Munich Re's primary insurance
business, following the announcement earlier in the week of a large
overhaul of the Ergo parent company.
The decision to discontinue new business an