|
|
 |
|
Viewing report
|
|
|
|
Business Men's Assurance Co. of America Placed on CreditWatch Negative; Ratings Lowered
Standard & Poors, May 2002
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
NEW YORK (Standard & Poor's) May 3, 2002--Standard & Poor's said today it placed Business Men's Assurance Co. of America on CreditWatch with negative implications and lowered its counterparty credit and financial strength ratings on the company to single-'A' based on the announcement that Assicurazioni Generali SpA intends to sell BMA, excluding its life reinsurance division, to RBC Insurance, the insurance operation of Royal Bank of Canada. Generali intends to create a stand-alone life reinsurance company from BMA's reinsurance division, which currently accounts for about half of BMA's GAAP earnings. Remaining with BMA will be its individual life block of business of approximately 150,000 policies, fixed annuities, and guaranteed investment contract business. The proposed sale is expected to close by...
Companies mentioned in this report are: Business Men's Assurance Co. of America,Royal Bank of Canada,Assicurazioni Generali SpA
Action: Downgraded, On CreditWatch Negative
|
|
|
|
