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'A' Ratings on Sampo Industrial Insurance N.V. Placed on Watch Neg Feb 01
Standard & Poors, Feb 2001
Abstract
LONDON (Standard & Poor's CreditWire) Feb. 1, 2001--Following The Sampo Group's recent decision to withdraw from the bulk of its international nonlife insurance underwriting, Standard & Poor's today placed its single-'A' counterparty credit and insurer financial strength ratings on Netherlands-based Sampo Industrial Insurance N.V. on CreditWatch with negative implications. The decision to withdraw leads Standard & Poor's to revise the core status of Sampo Industrial Insurance within the group. As far as the wider Sampo group is concerned, however, the discontinuation of this business--with its historically highly volatile results--could have a positive impact on the group's consolidated results. Sampo, now a fully integrated financial services group, is being restructured and is establishing specialized units underwriting nonlife, life, banking, and asset...
Companies mentioned in this report are: Hampden Insurance N.V.
Action: On CreditWatch:Negative
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.
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