(The following statement was released by the rating agency)
Oct 02 - Overview
-- Germany-based RISICOM Rueckversicherung AG qualifies as a captive insurer of its parent Siemens AG , according to our criteria.
-- We are assigning our 'A+' insurer financial strength and counterparty credit ratings to RISICOM Rueckversicherung.
-- The positive outlook reflects that of the company's parent Siemens. Rating Action
On Oct. 2, 2012, Standard & Poor's Ratings Services assigned its 'A+' long-term counterparty credit and insurer financial strength ratings to Germany-based reinsurer RISICOM Rueckversicherungs AG. The outlook is positive.
The ratings reflect our view of RISICOM's status as a captive insurer of Siemens AG (A+/Positive/A-1+) according to our criteria. We therefore rate RISICOM at the same level as its parent.