FRANKFURT (Standard & Poor's) Oct. 6, 2011--Standard & Poor's Ratings Services said today that it had affirmed its 'A' counterparty credit and insurer financial strength ratings on Germany-based life insurer PBV Lebensversicherung AG, a strategically important subsidiary of Germany-based Talanx Primary Insurance Group (TPG; not rated; core operating entities rated A+/Stable/--).

We subsequently withdrew the ratings on PBV Lebensversicherung AG at the request of TPG management. This is because the merger of PBV Lebensversicherung AG with its sister company PB Lebensversicherung AG (A/Stable/--), also a strategically important subsidiary of TPG, is complete and PBV Lebensversicherung AG has been liquidated.