Mapfre hits out at credit rating agencies
Mapfre's general manager, Esteban Tejera, has criticised ratings agencies for failing to take the company's financial figures into account when downgrading them.
Mr Tejera shared his views with Insurance Age's sister title Insurance Insight as the insurer discussed its 2011 financial results at a press briefing.
He highlighted: "Rating agencies are in contradiction. They do their job analysing your figures but then they reduce your rating according to the rating of your country."
Spain-based Mapfre Group was downgraded by two notches in January by Standard & Poor's to BBB+ from A.
Read the article in full
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk