Report title: Research Update: Fortis Corporate Insurance 'A-' Ratings Affirmed After News Of Planned Acquisition By Amlin PLC; Outlook Negative
from S&P Credit Research
published Jun 03, 2009

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About S&P Credit Research

On June 3, 2009, Standard&Poor's Rating Services affirmed its 'A-' counterparty credit and financial strength ratings on Netherlands-based commercial lines insurer Fortis Corporate Insurance N.V. (FCI). The outlook remains negative. The affirmation follows today's announcement that U.K.-based property casualty insurer and reinsurer Amlin PLC (BBB+/Stable/--) intends to acquire FCI. Completion of the transaction, which is expected before the end of July 2009, remains subject to the requisite regulatory and shareholder approvals. The affirmation of the ratings on FCI reflects Standard&Poor's view that its acquisition by Amlin, if successful, would remove the uncertainty surrounding FCI's long-term ownership and strategy, and would reinforce FCI's competitive position. It would also likely remove the uncertainty surrounding FCI's ability to restore

Report Type: Research Update
Ticker: 40236Z@BB
Issuer: Fortis Corporate Insurance N.V.
GICS: Property & Casualty Insurance (40301040)
Sector: Global Issuers
Country: Netherlands
Region: Europe, Middle East, Africa
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