Standard & Poor’s Ratings Services announced that it has affirmed its long-term “A+” counterparty credit and insurer financial strength ratings on U.K.-based non-life insurer QBE Insurance Co. (U.K.) Ltd. with a stable outlook.
At the same time S&P said it has withdrawn the ratings at the company’s request. The action follows the “successful completion of the legal transfer of its insurance business, assets, and liabilities to core affiliate QBE Insurance (Europe) Ltd. (A+/Stable/–),” said the bulletin.
S&P also noted that the “decision of the QBE group to amalgamate the business transacted by the two legal entities is in keeping with its ongoing initiative to streamline its European operations.”
Was this article valuable?
Here are more articles you may enjoy.
Farmers Insurance Plans Historic, Rapid Expansion of Agency Force 
Depreciation on ACV Is OK, Court Says in Knocking Down Class Action vs. Cincinnati 
Public Adjuster Accused of Swiping $600,000 in Hurricane Ian Insurance Payments 
Agency Customer Rep and Miami Businessman Killed in Separate Boat Accidents 
