Standard & Poor’s Ratings Services announced that it has withdrawn its “Bpi” issuer credit rating and financial strength rating on Universal Malayan Reinsurance Corp. (UMRE).
“The withdrawal is due to the insufficient information available to support a rating opinion, given the possible merger–still under discussion–of UMRE with National Reinsurance Corp. of the Philippines, the largest domestic reinsurer in the Philippines,” said S&P.
The rating agency noted that “National Reinsurance Corp. of the Philippines is not rated by Standard & Poor’s.”
Was this article valuable?
Here are more articles you may enjoy.
Farmers to Pay $2.8M to Settle TPCA Class Action Lawsuit 
NYC to Publicly Identify Buildings Testing Positive for Legionnaires’ Bacteria 
Remember the Fall of Patriot National? Trial in Suit vs. Mariano’s Lawyers to Begin 
Robotaxi Riders Are Falling Asleep, Sparking Frantic 911 Calls 
