Mapfre Re downgraded amid fears over future of Spanish economy
Mapfre Group’s reinsurance arm’s issuer credit rating has been downgraded by AM Best Europe following an assessment of the consolidated group’s financial strength and ongoing risks in the Eurozone.
SPain-domiciled Mapfre Re’s ICR has been downgraded from “a” from “a+” while its financial strength rating of A (excellent) has been affirmed. AM Best said that all ratings for the Mapfre subsidiary
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