Ratings agency Standard & Poor's (S&P) has affirmed its long-term counterparty credit and insurer financial strength ratings on Sweden-based If P&C at A.
Ratings agency Standard & Poor's (S&P) has affirmed its long-term counterparty credit and insurer financial strength ratings on Sweden-based If Property & Casualty (If P&C) at A, and its subordinated debt rating at BBB-plus.
The ratings on If P&C were also removed from CreditWatch with negative implications where they were placed on 7 November 2001.
The outlook on the ratings is negative.
S&P said If P&C's ratings were based on the group's leading position in the Nordic non-life insurance sector, "a position that has been consolidated with the addition of the Sampo business".
