Standard & Poor’s Ratings Services has placed its “BBB” long-term counterparty credit and insurer financial strength ratings on Oslo-based non-life insurer Bluewater Insurance ASA on CreditWatch with negative implications.
“The CreditWatch placement follows the announcement by Bluewater that it has entered into an agreement with Sweden-based insurer Tennant Insurance Group AB to acquire more than 90 percent of the shares in the group,” S&P explained.
“At this stage, we have little information about the proposed transaction,” stated S&P credit analyst Peter McClean. “Nevertheless, we hope to be in a position to resolve the CreditWatch placement following discussions with Bluewater’s management team, and in any case within a period of no more than 90 days,” he added.
Was this article valuable?
Here are more articles you may enjoy.
Viewpoint: Why Brokers Have Little to Fear and Everything to Gain From AI 
Electric Bills in Coal Country West Virginia Now Top Mortgage Payments 
Nationwide: Consumers Say Insurance Should Evolve for Micromobility Vehicles 
State High Court Weighs in on Woman Taken for Organ Donation But Was Still Alive 
