Groupama withdraws S&P rating for run-off subsidiary Minster
Standard & Poor's Ratings Services said today that it had affirmed its 'A' insurer financial strength rating on U.K.-based Minster Insurance Co. The rating was simultaneously withdrawn at the request of the French parent company Groupama. Minster is a run-off company deriving from Groupama's restructuring of its U.K. business.
Consequently, Minster is no longer subject to continuous surveillance by Standard & Poor's."The ratings on Minster Insurance at the time of the withdrawal were based on the formal guarantee provided
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