| Abstract: | On April 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). At the same time, Standard&Poor's removed these ratings from CreditWatch with developing implications, where they were placed on Oct. 6, 2008. The outlook is negative. The affirmation reflects FCI's strong, albeit weakened, capitalization and good competitive position in its specialty markets. Offsetting these is pressure on operating performance, and uncertainty about the company's future ownership and strategy. Our ratings do not include any explicit uplift from the current owner, the Dutch state, due to the temporary nature of this ownership; the state intends to sell FCI in the near term.
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| Brief Excerpt: | RESEARCH Ratings Definitions Research Update: Fortis Corporate Insurance Ratings Affirmed At 'A-' And Removed From CreditWatch Developing; Outlook Negative Publication date: 03-Apr-2009 Primary Credit Analysts: Marie-Aude Salinas,...
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| Report Type: | Research Update
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| Ticker: | 40236Z@BB
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| Issuer: | Fortis Corporate Insurance N.V.
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| GICS: | Property & Casualty Insurance (40301040)
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| Sector: | Global Issuers, Insurance
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| Country: | Netherlands
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| Region: | Europe, Middle East, Africa
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| Free Sample: |
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| Format: | | HTML |  |
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