Standard & Poor's has retained its 'BBB' long-term counterparty credit and insurer financial strength ratings on Gerling at CreditWatch with negative implications.
Standard & Poor's credit analyst Jörg Ritthaler said: "Standard & Poor's ratings are based on the expectation that the run-off of GKG's non-life reinsurance operations will continue to proceed in an orderly manner.
"In this context and in resolving the CreditWatch placement, Standard & Poor's plans to meet with the new owner to understand how the run-off will continue to be managed."
The ratings agency added that it will evaluate the impact of the sale of its reinsurance operations, to determine its effect on the group's credit quality.
