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At the same time S&P said it has withdrawn the ratings at the company’s request.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.
PE-Backed Insurance Broker Hub International Files Confidentially for US IPO 
North Carolina Becomes First State to Pass Outright Ban on Litigation Financing 
What Happens to Property Pricing in ’27, Insurance, Reinsurance Execs Ask 
Construction Firm Owner Charged With Workers’ Compensation Fraud 
