CHICAGO, May 19 /PRNewswire/ -- Duff & Phelps Credit Rating Co. (DCR) has
revised the Rating Watch status on if.Property & Casualty Insurance Ltd.'s
(if.P&C) 'A' (Single-A) claims paying ability rating from Up to Uncertain.
The change reflects the announcement by Finnish insurer Pohjola that it will
not merge its non-life operations into if.P&C. DCR believes that this
decision is a setback for if.P&C and its goal of becoming a market leader
across the Nordic region. if.P&C represents the combined non-life operations
of Skandia and Strorebrand.
Subsequent to this rating action, DCR has withdrawn the claims paying
ability rating on if.P&C at management's request.
For more information, visit DCR`s Web site at http://www.dcrco.com. DCR's
research is also available on Bloomberg at DCR, FirstCall`s BondCall
Direct/Research Direct at http://www.firstcall.com and Multex at
http://www.multex.com, as well as through other third-party providers.
SOURCE Duff & Phelps Credit Rating Co.
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Related links:
http://www.dcrco.com
CONTACT:
Julie A. Burke, CPA, CFA, 312-368-3158,
burke@dcrco.com, or Andrew Mitchell, +44-207-417-4367,
amitchell@fitchibca.com, both of DCR
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