Standard & Poor’s Ratings Services announced that it has affirmed its ‘A’ insurer financial strength rating on U.K.-based Minster Insurance Co. Ltd.
The rating was simultaneously withdrawn at the request of the French parent company Groupama S.A. “Minster is a run-off company deriving from Groupama’s restructuring of its U.K. business.
Consequently, Minster Insurance Co. Ltd. is no longer subject to continuous surveillance by Standard & Poor’s,” said the bulletin.
“The ratings on Minster Insurance Co. Ltd. at the time of the withdrawal were based on the formal guarantee provided by Groupama S.A. covering all existing liabilities as at Jan. 8, 2004,” stated S&P credit analyst Emmanuelle Cales.
Was this article valuable?
Here are more articles you may enjoy.
US Supreme Court Rejects Trump’s Global Tariffs 
Insurance Broker Stocks Sink as AI App Sparks Disruption Fears 
Insurify Starts App With ChatGPT to Allow Consumers to Shop for Insurance 
Former Broker, Co-Defendant Sentenced to 20 Years in Fraudulent ACA Sign-Ups 
