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The rating was simultaneously withdrawn at the request of the French parent company Groupama S.A. “Minster is a run-off company deriving from Groupama’s restructuring of its U.K. business.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.
Pennsylvania Public Adjuster Law Adds Cap on Fees, Bans Ties With Contractors 
AIG Steps Back from NPW Growth Target on Pressure in Some Lines 
LA Port Strike Risk Pushed to Friday as Labor Talks Continue 
WSJ Wins Dismissal of Trump’s $10 Billion Defamation Suit 
