Standard & Poor’s Ratings Services announced that it has withdrawn its “Bpi” issuer credit rating and financial strength rating on Universal Malayan Reinsurance Corp.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.
Insurance Customers Skeptical About AI Processes and Benefits 
How ‘Super Roofs’ Reward Insurers, Cat Bond Investors and Homeowners 
Lawsuit Alleges Farm Bureau Financial Concealed Fraudulent Activities 
Taiping Insurance Shares Hit by Over $200 Million Exposure to Hong Kong Fire 
