Intact Financial Corp. says its joint venture with Tryg A/S has signed a deal to sell Codan Forsikring A/S's Danish business (Codan DK) to Alm. Brand A/S Group for about $2.52 billion.
Fitch Affirms Intact’s Ratings After RSA Acquisition; RSA Subsidiary Upgraded to ‘AA-‘ June 2, 2021
Fitch Ratings has affirmed the Insurer Financial Strength (IFS) ratings of Intact Financial Corp.’s insurance subsidiaries at ‘AA-‘ (very strong), after its acquisition of RSA Insurance Group. Fitch also upgraded the IFS of RSA’s operating subsidiary, Royal & Sun Alliance Plc, to ‘AA-‘ from ‘A+’.
Fitch affirmed Intact’s senior unsecured debt at ‘A-‘; preferred shares at ‘BBB’ and Issuer Default Ratings (IDR) at ‘A’ and RSA Group’s senior unsecured debt at ‘A-‘, subordinates notes at ‘BBB+’ and restricted tier 1 notes at ‘BBB-‘.
All ratings have a Stable Rating Outlook.
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