Cornhill's credit rating was put on negative outlook by Standard & Poor's.
The move reflected stock market volatility, the ratings agency said.
It was one of three European life and non-life insur ...
Cornhill's credit rating was put on negative outlook by Standard & Poor's.
The move reflected stock market volatility, the ratings agency said.
It was one of three European life and non-life insurance groups to moved to negative from stable.
The company's insurer financial strength rating is AA.
The same outlook revisions were also made on Storebrand and IF. Swedish
life company Folksram was downgraded.
"Today's rating actions mark the second tranche of outlook changes in as many weeks, with the outlook on up to 50% of all rated life and non-life
European insurers now negative," said Rowena Potter, a managing director at Standard & Poor's Financial Services Group in London.
"The downgrade on Folksam Life and the outlook revisions on the Cornhill, Storebrand, and If groups reflect growing strain among some insurers with significant exposure to equity markets," said Ms Potter.
