Latest Spain Headlines
All the headlines from our Spain Topic Page, ordered by recency.
Best Affirms MAPFRE PRAICO FSR Ratings; Downgrades ICR; Outlook Negative
Jun 7 2012 // As Best announced in conjunction with these current rating actions, they follow a series of actions taken last December to address the implications for euro zone insurers. Generally it changed the outlook on the ratings,...
Economic Storm Clouds Continue to Gather over Europe
Jun 6 2012 // In many ways Ireland is a “microcosm for Europe,” said Danny McCoy, the Director General of the Irish Business & Employer’s Confederation (IBEC) at the EIF Forum. He described the present situation as...
Global Downturn Puts Investors, Companies in Retreat
Jun 5 2012 // Gripped by fears that Europe’s debt crisis is driving the world economy into a ditch, companies are delaying plans to raise capital and canceling deals, while investors are taking refuge in cash or any other place...
MAPFRE Q1 Results: Total Revenue Tops $8.8 Billion, Latin American Growth
May 10 2012 // Spain’s MAFRE Group posted total revenues for the first quarter of 2012 of €6.835 billion [$8.858 billion], an 11.5 percent increase compared to Q1 2011, “thanks to sustained growth of the international...
Spanish Economy in ‘Huge Crisis’ after Sovereign Debt Downgrade
Apr 27 2012 // Spain’s sickly economy faces a “crisis of huge proportions”, a minister said on Friday, as unemployment hit its highest level in two decades and Standard and Poor’s weighed in with a two-notch...
Moody’s Warns May Downgrade Global Banks, Cuts Ratings on Insurers
Feb 16 2012 // Moody’s warned on Thursday it may cut the credit ratings of 17 global and 114 European financial institutions in another sign the impact of the euro zone government debt crisis is spreading throughout the global...
Bogus Insurance Claims Help Spaniards Weather Tough Economic Times
Feb 10 2012 // Leather seats are disappearing from cars. Precious jewels are vanishing from drawers. TVs are spirited out of homes in the dead of night. These crimes are not what they seem. And the perpetrators are not the usual...
Ratings: Transsib Re, Tokio Marine Pacific, MAPFRE Panama, Union Nationale, Sovereign (NZ), Labuan Re, Tugu, ARIG
Dec 22 2011 // A.M. Best Europe – Rating Services Limited has upgraded the issuer credit rating to “bb+” from “bb” and affirmed the financial strength rating of B (Fair) of Russia’s OJSC Transsiberian...
Best’s Rating Actions Spurred by EU Failure to Produce Debt Crisis Solution
Dec 21 2011 // Although the recent summit of the 27 countries of the European Union did manage to come up with a plan to control budget deficits – in the future – it “took no clear short term actions to address the debt...
Ratings Roundup: MAPFRE USA, AXA US,
Dec 19 2011 // A.M. Best Co. has downgraded the financial strength rating to ‘A’ (Excellent) from ‘A+’ (Superior) and issuer credit ratings to “a+” from “aa-” of MAPFRE USA Group following...
Best Places MAPFRE PRAICO Group’s Ratings on Review/Negative
Dec 19 2011 // A.M. Best Co. has placed under review with negative implications the financial strength rating of ‘A’ (Excellent) and issuer credit ratings of “a+” of MAPFRE PRAICO Group (MPG) and its members,...
Best Downgrades Generali, Main Subs Ratings; Keeps on Review/Negative
Dec 15 2011 // As a result of the continued negative developments regarding the euro zone sovereign debt crisis, A.M. Best Europe – Rating Services Limited has downgraded the financial strength rating (FSR) to ‘A’...
Best Downgrades MAPFRE RE’s Ratings; Placed on Review/Negative
Dec 15 2011 // A.M. Best Europe – Rating Services Limited announced that “as a result of the continued negative developments regarding the euro zone sovereign debt crisis,” it has downgraded the financial strength rating to...
S&P Puts Allianz, Aviva, AXA, Generali, Mapfre Units, 10 Other EU Insurers on CreditWatch/Negative
Dec 12 2011 // Standard & Poor’s Ratings announced that it has placed its ratings on the following insurers (and certain related operating subsidiaries and certain holding companies) on CreditWatch with negative...
Florida Firm to Appeal in Bid for Sunken Spanish Treasure
Sep 23 2011 // U.S. deep-sea explorers must turn over to the Spanish government 17 tons of silver coins and other treasure recovered from a sunken Spanish galleon in 2007, a federal appeals court ruled Wednesday. But Tampa, Florida-based...
Ratings Roundup: Ocaso, Mariah Re (Notes)
Sep 6 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A+’ (Superior) and the issuer credit rating of ‘aa-‘ of Spain’s Ocaso, S.A. Seguros y Reaseguros....
Best Affirms MAPFRE RE ‘A+’ Ratings; Outlook Remains Negative
Jul 22 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A+’ (Superior) and issuer credit rating of “aa-” of Spain’s MAPFRE RE, Compania de Reaseguros, S.A....
Stress Test Puts Banks’ Euro Zone Debt in Spotlight
Jul 18 2011 // Pressure on Europe’s banks to raise more capital increased on Monday after last week’s stress tests revealed their holdings of European sovereign debt, with likely losses on Greek bonds a growing concern. A...
Europe Considers Greek Default Possible; Leaders to Meet
Jul 12 2011 // European Union leaders are poised to hold an emergency summit after finance ministers acknowledged for the first time that some form of Greek default may be needed to cut Athens’ debts and stop contagion to Italy and...
Liberty Mutual Appoints Huerta CEO of Liberty Seguros Spain
Jun 22 2011 // The Liberty Mutual Group has named Enrique Huerta CEO of Liberty Seguros Compania, de Seguros y Reaseguros, S.A. (Liberty Seguros Spain), effective July 1, 2011. José María Dot, the current President of Liberty Seguros...
