Fitch acts on Italy and Spain—Generali unaffected but Fondiaria and Mapfre downgraded
Fitch Ratings said on Tuesday that Assicurazioni Generali and its core operating subsidiaries' ratings are not affected by the downgrade of Italy's long-term foreign and local currency Issuer Default Ratings (IDRs) to 'A-' from 'A+', with a Negative Outlook.
Willis Q3 revenues up 5% but net income cut in half
Willis reported total revenues of $2.63bn for the first nine months of 2011, up 5% on the $2.5bn received in the same period last year.
Lloyd's suffers £697m loss after battering from nat cats
Lloyd's has announced losses of £697m (€774m) and a combined ratio of 113.3% for the first six months of 2011 on the back of what it described as unprecedented levels of natural catastrophe losses this year.
