Fitch revises Vivat to evolving

Fitch Ratings said it revised the outlooks on Vivat NV's long-term issuer default rating and Srlev NV's and Reaal Schadeverzekeringen NV's (together Vivat Insurance) insurer financial strength ratings to evolving from stable.

The agency simultaneously affirmed Vivat's issuer default rating at BBB and Vivat Insurance's insurer financial strength ratings at BBB+ (good).

Fitch said the affirmations reflect its view that Vivat's credit profile as a standalone Dutch insurer is not directly affected by the credit profile of its parent, Anbang Insurance Group Co. Ltd. This follows a recent announcement by the China Insurance Regulatory Commission (CIRC) that it took control of Anbang, as provided for under Chinese law.

The outlook revision reflects its view of heightened uncertainty whether Anbang will remain Vivat's owner longer-term, the agency explained. The agency does not have any direct or indirect knowledge of any actions the CIRC is contemplating in its oversight of Anbang.

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