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At the same time S&P said it has withdrawn the ratings at the company’s request.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.
Municipal Insurer Must Pay Share of $14.9 Million Wrongful Incarceration Settlement 
Pennsylvania Public Adjuster Law Adds Cap on Fees, Bans Ties With Contractors 
Florida Appeals Court Bars Release of ‘Trade Secret’ Info in Heritage Claims Litigation 
US Court Reinstates ‘Sunday Ticket’ Class Action Verdict Against NFL 
