Unione Italiana's Rtg Raised to 'AA';Off S&PWatch.LONDON--(BUSINESS WIRE)--Standard & Poor's CreditWire 14/1/97-- Standard & Poor's today raised its claims-paying ability rating of Unione Italiana di Riassicurazione SpA (UIR UIR Upper Flight Information Region UIR Unusual Incident Report UIR User Interface Requirement UIR Wire Connector (used on drawings, etc.; phonetically, UIR sounds like 'wire') UIR Uniform Impedance Resonator UIR User Incident Report ) to double-'A' from single-'A' and removes it from CreditWatch, where it was placed November 1996. The ratings upgrade follows the completion of the 100% acquisition by Swiss Reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. Co. ("Swiss Re Swiss Re is the world’s largest reinsurer, now that it has acquired GE Insurance Solutions (Ligi 2006). Founded in 1863, Swiss Re now operates in more than 30 countries. General Electric owns 8.9% of the firm. " - claims-paying ability rating triple-'A'). Standard & Poor's believes the Italian operations are strategically important to the parent company and have already been managed as an integral part of the operations. Effective Jan. 1, 1998, UIR's name was changed to Swiss Re Italia SpA. (SRIS SRIS Science Reference and Information Service (British Library) SRIS Societas Rosicruciana In Scotia SRIS Ship Registry Information System SRIS Sunflower Road Internet Services, Inc. ) Swiss Re acquired a 49% stake in the company on Feb. 11, 1997 while the remaining 51% was acquired on Dec. 17, 1997. Swiss Re assumed effective management control on Jan. 20, 1997. Swiss Re and INA Ina (ē`nä), city (1990 pop. 60,062), Nagano prefecture, central Honshu, Japan, on the Tenryu River. It is an agricultural and industrial center with a famous agricultural school. (the former parent) have transferred SRIS's real estate holdings into two separate companies. One of these companies is held by INA, while in the other, both companies hold an interest. SRIS will focus on the Italian market and will also assume the existing portfolio of Italian business of Swiss Re Zurich, La Consorziale and Mercantile Relating to trade or commerce; commercial; having to do with the business of buying and selling; relating to merchants. A mercantile agency is an individual or company in the business of collecting data about the financial status, ability, and credit of individuals & General. The non-Italian business of SRIS will be renewed by appropriate Swiss Re entities outside Italy, Standard & Poor's said. - CreditWire CONTACT: Jayan U Dhru, London (44) 171-826-3560 Rob Jones, London (44) 171-826-3650 For more information on criteria or subscriptions: http://www.ratings.standardpoor.com |
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