Mapfre, Generali and CCR downgraded following sovereigns

A raft of European insurers including Italy-based Generali and Spanish insurer Mapfre were downgraded by Standard and Poor’s yesterday.

The action follows the downgrading of nine of the seventeen Eurozone member governments by the ratings agency on 13 January 2012.

"As a result, we are lowering the ratings on Mapfre Group

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