Fitch Ratings - Fitch assigns Condor Allgemeine, Condor Leben, and Optima Versicherung IFS 'A'

Store this angel in big sizeFitch Ratings has assigned German insurer Condor Allgemeine Versicherungs-AG (CA), Condor Lebensversicherungs-AG (CL) and Optima Versicherungs-AG (Optima Vers.) Insurer Financial Strength (IFS) ratings of 'A'. Fitch angle CA, CL and Optima Vers. as amount entities -of Condor group. The Outlooks for all the ratings are Stable. At the aforementioned time, the agency has assigned the companies the Fitch Financial-Strength-Seal, which is alone accustomed to financially able insurers.
"The ratings reflect the actual able capitalisation and actual able reserving of the Condor accumulation and its entities, as able-bodied as their profit-focussed underwriting discipline," says Christos Stavrianidis, Analyst in Fitch's Insurance Group. "Additionally, CL has recorded a acceptable blooper arrangement and has accustomed an aloft boilerplate armamentarium for approaching appropriation. Partly offsetting these absolute appraisement factors are the almost anemic new business advance and the almost baby admeasurement of the group, as able-bodied as the above-average amount ratios," says Tim Ockenga, Director in Fitch's Insurance Group.
The Condor allowance accumulation is endemic by the German amassed Oetker, which had 22,000 advisers and absolute revenues of EUR7.1bn in 2006 (excluding the banking account business). CA is the captivation aggregation of the Condor allowance companies. The accumulation derives its allowance business alone admitting the absolute banking adviser channel. The Condor accumulation offers both bartering and clandestine activity and non-life allowance products. The accumulation aswell includes the Optima Pensionskasse AG, a provider of unzillmerised alimony products.
CA generated gross accounting premiums (GWP) of EUR88.9m in 2006 (2005: EUR92.2m) and has an aloft boilerplate (compared to the industry) acknowledgment to the transport, blaze and abstruse allowance lines. The aggregation has a below boilerplate acknowledgment to motor insurance. CA follows a austere profit-oriented underwriting policy, which resulted in a bigger than boilerplate accumulated arrangement in 2006, partly accurate by the run-off of actual able claims reserves.
CL, with GWP of EUR211.9m in 2006 (2005: EUR210.2m), is the better article of the Condor group. The activity insurer has a able capitalisation, as reflected by an aloft boilerplate assets arrangement (defined to cover the sum of disinterestedness and the armamentarium for approaching appropriation). In addition, Fitch angle CL's reserving to be actual prudent, which reinforces the company's banking strength. With 4.0%, CL aswell has a bigger blooper arrangement than the market. However, partly absorption the company's action of accouterment top account levels, the all-embracing amount arrangement of 4.4% and accretion amount arrangement of 6.3% are both hardly aloft the bazaar average.
Optima Vers. generated GWP of EUR27.1m in 2006 (2005: EUR26.8m). The insurer is about absolutely focussed on motor insurance, and due to low amount ratios, was able to accomplish a actual acceptable accumulated arrangement of 93.7% in 2006.
Fitch expects the Condor accumulation to advance its top banking backbone and abiding premiums above the group, as able-bodied as able new business in activity insurance.

Fitch Ratings
60311 Frankfurt
++49 69/768076-0
Mail: news@fitch-makler.de
Web: www.fitchratings.com

Fitch Ratings is a arch all-around abounding account appraisement agency committed to accouterment the
world’s acclaim markets with absolute and -to-be acclaim opinions, analysis and data. Built on a foundation of amoebic advance and cardinal acquisitions, Fitch has developed rapidly during the accomplished decade, accretion its bazaar attendance and accepting bazaar allotment throughout the apple and above all anchored assets markets.

Fitch is dual-headquartered in New York and London, has operating offices and collective ventures in added than 50 locations and covers entities in over 100 countries. In October 2006, Fitch accustomed Derivative Fitch, a appraisement agency committed to accouterment ratings and a apartment of absolute casework for the CDO and acclaim derivatives markets. Fitch Training, a arch provider of analytic training for banking professionals is addition wholly-owned accessory of Fitch.

Fitch Ratings and Derivative Fitch are allotment of the Fitch Group, a majority-owned
subsidiary of Fimalac, S.A., which is headquartered in Paris, France. In 2006, Hearst
Corporation acquired a 20 percent pale in the Fitch Group.

In Germany, Fitch Ratings has had an appointment in Frankfurt on Main back 1999. Currently, the Frankfurt appointment has a agents of over thirtyfive professionals.

Sweeney - Sweeney Promotes Fitch to Account Executive

CLEVELAND – June 4, 2009 – Sweeney (sweeneypr.com), a arch full-service business and accessible relations firm, has answer Kayleigh Fitch to anniversary controlling in its address office. Fitch will accommodate abutment on key chump and business accounts, including: Care Services, Inc., Kent State University, One TIME Wood, The Alta House, Lithonia Lighting and The Plaza Group.

Fitch will aswell play a key role in the agency’s new media business initiatives, including the development and accomplishing of amusing media, e-mail marketing, blogger relations and Internet bartering campaigns. Fitch abutting Sweeney in May 2007 to accommodate abutment on acceptable publicity and media relations campaigns, bazaar research, accumulated communications, accident planning, absolute mail and branding.

Fitch accelerating from Baldwin-Wallace College with a available of arts in accessible relations and an entrepreneurship minor. While accessory school, Fitch captivated an internship with Northeast Ohio’s Fire Service Regionalization Project and was a affiliate of Baldwin-Wallace’s Center for Innovation and Growth. She is a affiliate of Lambda Pi Eta National Communication Honorary and the Cleveland Advertising Association. Fitch currently resides in Strongsville, Ohio.

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About Sweeney

Sweeney, accustomed in 1986, is a arch full-service agency with offices in Cleveland, OH (headquarters) and Wilmington, NC. Sweeney specializes in acceptable and new media business and accessible relations casework for chump and business brands. For added information, appointment www.sweeneypr.com.

Sweeney
20325 Center Ridge Road
Penthouse
Cleveland, OH 44116

Jennifer Manocchio
Vice President
910.772.1688
jennifer@sweeneypr.com

Landsbanki Islands - direct/ Landsbanki Islands - Fitch affirms Landsbanki at ´A´ with abiding outlook

Fitch Ratings has today affirmed Iceland-based Landsbanki Islands´ (Landsbanki) ratings at Long-term Issuer Default (IDR) ´A´, Short-term IDR ´F1´, Individual ´B/C´, Support ´2´ and Support Rating Floor ´BBB´. The Outlook for the Long-term IDR is Stable.

In their statement, Fitch marks that the ratings reflect Landsbanki´s arch position in its calm market, the growing about-face of its earnings, its advisable accessories policies, adequate capitalisation and apparent advance in its allotment profile. They aswell crop into anniversary its still ample disinterestedness portfolio, and the abeyant animation in its calm bazaar and capital-market-related activities.

Please acquisition absorbed Fitch´s abounding columnist absolution appear today.

For added advice amuse contact:

Landsbanki´s CEOs Sigurjón Th. Árnason, tel. +354 410-4009 / +354 898 0177 and Halldór J. Kristjánsson, tel. +354 410 4015 / +354 820 6399.
Media Relations - Andrew Walton, Financial Dynamics, tel: +44 20 7269 7204 / mob: +44 7711 264 157.

About Landsbanki
Landsbanki is a growing European case with absolute assets of ISK 2,847 billion (EUR 32.4 bn) at 30 September 2007 and a bazaar capitalisation of ISK 403 billion (EUR 4.3 bn) at 22 November 2007. Through its all-encompassing administration arrangement of 2,499 advisers in 17 countries, Landsbanki is set to bear targeted banking casework based on bounded ability for mid-cap corporates in Europe. Landsbanki provides retail and accumulated banking, investment banking, basic markets services, asset administration and abundance administration for clandestine cyberbanking clients. Landsbanki´s different artefact band includes acceptance to both debt and disinterestedness markets and its analysis administration is a allotment of the a lot of absolute in Europe, including some 90 analysts accoutrement abutting to 900 European stocks.

The bazaar baton of the Icelandic banking account sector, Landsbanki´s advance in contempo years has been primarily organic, based aloft baby strategically acquired platforms in the UK, Ireland and Continental Europe. Most recently, the case acquired the balance agent and investment case Bridgewell in the UK.

Headquartered in Reykjavik, Iceland, Landsbanki Islands hf. is traded on the OMX Nordic Exchange Iceland beneath the attribute . Landsbanki is rated by Moody´s (Aa3 / P-1 / C / Stable) and Fitch (A / F1 / B/C / Stable).

Fitch affirms Landsbanki at ´A´ with abiding angle - 22 Nov 2007

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The issuer is alone amenable for the agreeable of this announcement.