S&P affirmed insurer’s current unsolicited rating at BBBpi

Francois-Xavier Boisseau

Ageas’s UK-regulated insurer Ageas Insurance Limited is seeking a full rating from ratings agencies in 2015.

The company has an unsolicited rating of BBBpi from Standard & Poor’s (S&P), which the agency affirmed on 30 September.

The ‘pi’ suffix shows that the rating is unsolicited, and so based on public information. S&P’s full interactive rating process involves contact with management and access to more in-depth information.

But S&P has decided to stop offering unsolicited ‘pi’ ratings, which will leave Ageas Insurance Limited without a rating.

Ageas said in a statement: “Ageas is undertaking a review with ratings agencies to secure an interactive rating in 2015.”

S&P affirmed Ageas Insurance Limited’s BBBpi rating because of its “satisfactory” business risk profile and “upper adequate” financial risk profile.

Ageas Insurance Limited is run by François-Xavier Boisseau (pictured) and is part of Ageas UK.

Belgian parent Ageas’s main underwriting division AG Insurance has an A- rating with a positive outlook from S&P, an A2 from Moody’s and an A+ from Fitch.  

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