QBE receives ratings boosts
Standard & Poor’s has affirmed QBE’s key ratings and upgraded its recent US acquisitions Praetorian and Winterthur.
The ratings agency has held the insurer financial strength and counterparty credit ratings at “A-” for QBE’s holding company and “A+” for its core operating entities.
S&P has rewarded QBE for its successful integration of Praetorian by reclassifying the US property and casualty business as a core entity and lifting its ratings.
It has also reaffirmed Winterthur’s “A” rating and improved its outlook from stable to positive.
QBE spent $US2 billion ($2.1 billion) acquiring the US subsidiaries 18 months ago.
The ratings agency has held the insurer financial strength and counterparty credit ratings at “A-” for QBE’s holding company and “A+” for its core operating entities.
S&P has rewarded QBE for its successful integration of Praetorian by reclassifying the US property and casualty business as a core entity and lifting its ratings.
It has also reaffirmed Winterthur’s “A” rating and improved its outlook from stable to positive.
QBE spent $US2 billion ($2.1 billion) acquiring the US subsidiaries 18 months ago.