OREANDA-NEWS. Fitch Ratings has affirmed non-life insurer Westfaelische Provinzial Versicherung AG's (WPV) and life insurer Provinzial NordWest Lebensversicherung AG's (PNWL) Insurer Financial Strength (IFS) ratings at 'AA-'. The Outlooks are Stable.

The ratings reflect Fitch's view of WPV and PNWL as core entities of the German Provinzial NordWest (PNW) insurance group, which we consider an integral part of the German savings bank group Sparkassen-Finanzgruppe (Sparkassen) (SFG: Issuer Default Rating (IDR) A+/Stable). WPV and PNWL's ratings benefit from their ultimate ownership by SFG. We align their implied IDRs with SFG's IDR.