MILAN (Reuters) – International rating agency Standard & Poor's has removed Generali from its Credit Watch list after ascertaining that Italy's biggest insurer would not exhaust its regulatory capital even if its home country were to default on its debt.
In a statement, the rating agency said it affirmed Generali's rating at A-, two notches above Italy's sovereign rating, with a negative outlook.
Back in November, Generali had reacted angrily at Standard & Poor's decision to threaten a downgrade by putting it on Credit Watch, wa move hich Generali's CEO Mario Greco had called “a gross mistake.”
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
