Moody’s takes rating actions on 11 Indian banks following sovereign downgrade

SINGAPORE: Moody's Investors Service has taken rating actions on 11 Indian banks following sovereign downgrade. Rating action has been taken on following banks: Bank of Baroda (BOB), Bank of India…

NNR June 3, 2020

Ratings

AM Best revises outlook on Spanish insurance market

LONDON: AM Best has assigned a negative market segment outlook to the Spanish life insurance market. Key supporting factors include AM Best’s expectation of a negative impact on earnings and…

NNR June 2, 2020

Ratings

COVID-19 throws spotlight on London Market modernisation

LONDON: While many London Market participants began 2020 generally optimistic on the back of signs of pricing improvement, the COVID-19 pandemic has cast a shadow over performance expectations for the…

NNR June 2, 2020

Ratings

AM Best affirms credit ratings of M&C General Insurance Company

OLDWICK: AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of M&C General Insurance Company Limited (M&C General) (Castries, St.…

NNR June 2, 2020

Ratings

AM Best affirms credit ratings of Pacific LifeCorp and its subsidiaries

OLDWICK: Global insurance sector rating agency, AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa” of the members…

NNR May 31, 2020

Ratings

AM Best affirms credit ratings of Redbridge Insurance with stable outlook

MEXICO CITY: AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” of Redbridge Insurance Company Limited (RICL) of Barbados. The…

NNR May 31, 2020

Ratings

AM Best downgrades credit ratings of Consumer Insurance Services Limited

SINGAPORE: AM Best has downgraded the Financial Strength Rating to B+ (Good) from B++ (Good) and the Long-Term Issuer Credit Rating to “bbb-” from “bbb” of Consumer Insurance Services Limited…

NNR May 31, 2020

Ratings

S&P Global Ratings upgrades its ratings for ContourGlobal PLC

LONDON: S&P Global Ratings (S&P) has upgraded the ContourGlobal PLC (CG) issuer credit rating to 'BB' from 'BB-', its subsidiary ContourGlobal Power Holdings (CGPH) to 'BB' from 'BB-', and the…

NNR May 28, 2020

Ratings

CapitaLand launches ecommerce platforms to complement sales of shopping malls in Singapore

SINGAPORE: CapitaLand will be launching an ecommerce platform eCapitaMall, and an online food ordering platform Capita3Eats to complement sales of its shopping malls in Singapore. Both platforms will be accessible…

NNR May 22, 2020

Ratings

ACRA Agency assigned credit rating to the exchange-traded bonds of PJSC Magnit

KRASNODAR: PJSC Magnit, one of Russia's leading retailers, announces the assignment of the credit rating by ACRA Agency to the exchange-traded bonds of PJSC Magnit. On May 22, 2020 ACRA…

NNR May 22, 2020

Ratings

Reinsurers brace for pandemic-fueled spate of mortgage losses

OLDWICK: With mortgage delinquency rates expected to dramatically increase due to COVID-19 pandemic-related forbearance and job loss, AM Best has explored the spillover effect into the mortgage-related activities of the…

NNR May 21, 2020

Ratings

AM Best revises outlook to negative on Colombia’s insurance industry

MEXICO CITY: AM Best has revised its market segment outlook to negative from stable on Colombia’s insurance industry, owing mainly to the COVID-19 pandemic and the resulting economic damage, which…

NNR May 20, 2020