AXA and Aviva among 15 insurers placed on negative watch by Standard and Poor’s

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Rating agency Standard and Poor’s (S&P) has threatened 15 insurance companies including AXA, Aviva, Allianz and RSA Insurance Ireland with downgrades because of the ongoing eurozone problems.

S&P said: “We are placing the ratings on certain European insurance providers on credit watch negative.

“Depending on the outcome of our review of the ratings on the eurozone member governments, the long-term ratings on these insurers could be lowered by one or two notches, and short-term ratings for some issuers could be lowered by one notch.”

S&P bared its teeth last week by threatening to downgrade Groupama yet again.

S&P warned it could downgrade Groupama’s credit rating to below investment grade, or ‘junk’ status.

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