Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Allianz SpA > News item |
S&P cuts four Italian insurers
Standard & Poor's said it lowered its long-term counterparty credit and insurer financial strength ratings on four Italian insurers, as follows: Assicurazioni Generali SpA and its core subsidiaries to BBB+ from A-; Allianz SpA to A- from A; and UnipolSai and Societa Cattolica di Assicurazione SpA to BBB- from BBB.
At the same time, the agency affirmed its BBB- counterparty credit and insurer financial strength ratings on SIAT - Societa Italiana Assicurazione e Riassicurazione SpA.
All outlooks are stable.
The agency downgraded by one notch the four Italy-based insurers that we rated either higher than or at the same level as the Republic of Italy. The sovereign downgrade has no direct effect on the BBB- ratings on SIAT.
S&P said the downgrades reflect its view that the exposure of Italy-based insurers to Italian investments is material compared to their total general accounts investments and compared to their regulatory capital.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.