Mapfre Insurance Group Core Entities Downgraded To 'BBB+' Following Downgrade Of Spain; On CreditWatch Negative Oct 12
- Language: English
- Published: October 2012
- Region: Spain
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On July 18, 2006, Standard & Poor's Ratings Services raised its long-term counterparty credit and insurer financial strength ratings on Spain-based reinsurer Mapfre Re Compa--a de Reaseguros, S.A. (Mapfre Re) to 'AA' from 'AA-'. The outlook is stable. At the same time, Standard & Poor's revised its outlook on Mapfre Re's U.S.-based subsidiary, Mapfre Reinsurance Corp. (MRC), to negative from stable, and affirmed its 'AA-' long-term counterparty credit and insurer financial strength ratings on the company. The upgrade of Mapfre Re reflects Standard & Poor's view of the company's increased importance to Spanish insurance group Sistema Mapfre--the Mapfre group or Mapfre--as determined by Mapfre Re's size relative to the group as a whole. As a result, Mapfre Re is now...
Companies mentioned in this report are: Mapfre Re, Compania de Reaseguros, S.A.,Mapfre Reinsurance Corp.,Mapfre S.A.,Mapfre Mutualidad de Seguros y Reaseguros a Prima Fija,Mapfre Global Risks, Compania Internacional de Seguros y Reaseguros S.A.
Action: Outlook: Negative
Action: Outlook: Stable
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Mapfre Re, Compania de Reaseguros, S.A.,Mapfre Reinsurance Corp.,Mapfre S.A.,Mapfre Mutualidad de Seguros y Reaseguros a Prima Fija,Mapfre Global Risks, Compania Internacional de Seguros y Reaseguros S.A.