Standard & Poor's (S&P) has affirmed its ratings on Sampo, the Finnish banking and insurance group, following the withdrawal of its bid for the Norwegian insurer, Storebrand.
The ratings agency affirmed Sampo's A long-term and A-1 short-term counterparty credit ratings. The outlook remains negative.
The BBB counterparty credit and insurer financial strength ratings on Sampo Industrial Insurance, the Dutch-based insurer the Sampo group recently agreed to sell to Hampden PLC, remain on credit watch with negative implications.
At the same time, Standard & Poor's affirmed its A-plus counterparty credit and insurer financial strength ratings on Storebrand. The outlook is negative.
Sampo abandoned its $2.23bn (£1.51bn) bid for Sampo yesterday, saying financial market turbulence meant its offer was “excessive”.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
