PARIS (Standard&Poor's) March 26, 2010--Standard&Poor's Ratings Services said today that its ratings and outlook remain unchanged on Società Cattolica di Assicurazione (insurer financial strength rating A-/Negative) after our analysis of its full-year 2009 results as part of our review of the Italian insurance companies that we rate. In a difficult market context for property/casualty (P/C) insurance in Italy, particularly where the performance of the motor business has sharply deteriorated, Cattolica posted an improved combined ratio of 97.5% at year-end 2009, versus 99.4% at year-end 2008. The improvement is the result of actions that Cattolica has taken since 2007, including a pruning of the motor portfolio, the introduction of a new motor tariff, a revision of risk
