S&P Global Market Intelligence compiles ratings actions in the insurance space daily through 5 p.m. ET. Actions after 5 p.m. ET will be included in the following day's roundup.
U.S. and Canada
Fitch Ratings affirmed White Mountains Insurance Group Ltd.'s BBB long-term issuer default rating. The outlook is evolving.
Simultaneously, the ratings were withdrawn for commercial purposes.
Fitch constrains White Mountains' issuer default rating to account for the significant uncertainty regarding long-term strategy, including the credit quality of ultimate insurance and reinsurance businesses purchased, and the ability to execute strategy over an extended period of time without pressure from shareholders to deploy or return capital.
S&P Global Ratings affirmed the AA+ financial strength and long-term issuer credit ratings of Berkshire Hathaway Inc.'s core operating insurance subsidiaries, including National Indemnity Co., Government Employees Insurance Co. and General Reinsurance Corp.
The rating agency also affirmed the AA long-term issuer credit rating of Berkshire Hathaway's intermediate insurance holding companies, General Re Corp., GEICO Corp. and General Re Financial Products Corp.
The affirmation and stable outlook take into account the strength of Berkshire Hathaway insurance segment's diversified businesses and its capitalization.
The stable outlook also reflects the rating agency's expectation that Berkshire Hathaway's insurance operations will maintain its excellent competitive position, anchored by large re/insurance businesses and supported by strong diversified earnings during the next two-to-three years.
A.M. Best affirmed the financial strength rating of A- and the long-term issuer credit rating of "a-" of Belgium-based European Liability Insurance for the Nuclear Industry. The outlook is stable.
The ratings reflect the company's balance sheet strength, which A.M. Best categorizes as very strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management.
A.M. Best affirmed the financial strength rating of A and the long-term issuer credit rating of "a" of European Mutl Association for Nuclear Insurance. The outlook is stable.
The ratings reflect the insurer's balance sheet strength, which A.M. Best categorizes as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.
Fitch affirmed Scottish Widows Ltd.'s insurer financial strength rating at AA-, long-term issuer default rating at A+ and short-term issuer default rating at F1. The outlooks on insurer financial strength rating and long-term issuer default ratings are negative.
The ratings are based on the credit quality of Scottish Widows Group Ltd., since the ratings agency views Scottish Widows Ltd. as core to the group under its insurance group rating methodology.
This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.
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