A.M. Best Places Ratings of SCHWARZMEER UND OSTSEE Versicherungs-AG Under Review With Developing Implications

OLDWICK, N.J.--(Business Wire)--
A.M. Best Co. has placed the financial strength rating (FSR) of B++ (Good) and
the issuer credit rating (ICR) "bbb" of SCHWARZMEER UND OSTSEE
Versicherungs-Aktiengesellschaft SOVAG (SOVAG) (Germany) under review with
developing implications.

SOVAG`s ratings were placed under review following the acquisition of 54.1% of
SOVAG`s share capital by Volga Resources SICAV-SIF S.A. (Volga Resources), a
Luxembourg-based investment fund. The transaction has been cleared by the German
Federal Supervisory Authority (BaFin); however, it is still subject to approval
from the German Anti-Trust Authority (Bundeskartellamt). The rating will remain
under review pending completion of A.M. Best`s analysis of the impact of the new
ownership on SOVAG.

For Best`s Credit Ratings, an overview of the rating process and rating
methodologies, please visit www.ambest.com/ratings.

The principal methodologies used in determining these ratings, including any
additional methodologies and factors that may have been considered, can be found
at www.ambest.com/ratings/methodology.

Founded in 1899, A.M. Best Company is a global full-service credit rating
organization dedicated to serving the financial and health care service
industries, including insurance companies, banks, hospitals and health care
system providers. For more information, visit www.ambest.com.

Analysts
Maik Stolle, +(44) 20 7626 6264
maik.stolle@ambest.com
or
Charlotte Vigier, +(44) 20 7626 6264
charlotte.vigier@ambest.com
or
Public Relations
Jim Peavy, +1-908-439-2200, ext. 5644
james.peavy@ambest.com
or
Rachelle Morrow, +1-908-439-2200, ext. 5378
rachelle.morrow@ambest.com

Copyright Business Wire 2009