Standard & Poor’s Ratings Services reacted to the announcement of the joint venture agreement between Ceska pojistovna a.s. (Ceska) and Italy’s Generali Group (See IJ web site April 27) by placing the Czech insurer’s “BBB” counterparty credit and insurer financial strength ratings on its CreditWatch with positive implications.
“Standard & Poor’s considers that on the successful completion of Generali’s acquisition of CZI Holdings, the ratings on Ceska will likely be raised by up to three notches,” stated S&P credit analyst Paul Bradley.
S&P explained the move as indicative of the “support from a higher rated entity, Generali, and expected greater transparency at a stand-alone level resulting from Generali’s control.”
Was this article valuable?
Here are more articles you may enjoy.
Industry Reacts to Senators’ Letter for Claims Data and Recent Reports 
Hordes of Teens on E-Bikes Force Suburbs to Rewrite Road Rules 
KCC Says Isaias Insured Losses to Be $3 Billion; AM Best Calls Storm an Earnings Event 
All in the Family: Husband, Wife and Daughter Indicted for Insurance Fraud and Bribery 
