Standard & Poor's has lowered its long-term counterparty credit and financial strength ratings on Germany-based insurers Gerling-Konzern Allgemeine Versicherungs-AG (GKA) and Gerling-Konzern Lebensversicherungs-AG (GKL) to single-'A'-minus from single-'A'.
The outlook is developing.
At the same time, Standard & Poor's CreditWatch implications on Gerling-Konzern Globale Rückversicherungs-AG (GKG) and the other legal entities comprising the GKG group were revised to negative from developing.
The triple-'B' long-term credit and financial strength ratings on the GKG group were initially placed on CreditWatch on 4 September 2002.
