Fitch affirms Ageas

Fitch Ratings said it affirmed Ageas SA/NV's long-term issuer default rating at A.

The outlook is stable.

The agency also affirmed Ageas Insurance International NV's long-term issuer default rating at A.

“The ratings reflect Ageas's very strong capitalisation as well as low financial leverage,” Fitch said in a news release.

“However, earnings remain constrained by challenging operating conditions in Belgium and the U.K. and low bond yields limiting the group's investment income.”

The agency said the ratings also reflect the Amsterdam Court of Appeal's decision to declare binding the Fortis settlement agreement entered between Ageas and several claimants.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.