Moody's assigns ratings to 20 insurers

Ratings agency Moody's Latin America has assigned national scale and global local currency insurance financial strength ratings to 20 Argentine insurers with stable outlooks, the agency said in a statement. Companies that received ratings include BBVA Consolidar, Chubb Argentina, Generali Corporate, HSBC, La República, Mapfre Argentina, Nación Seguros and Royal & SunAlliance. The agency said the national scale insurance financial strength ratings assigned would replace the existing national scale ratings that Moody's Latin America maintained previously on the rated companies. Moody's national scale ratings can be used to differentiate or rank insurance companies' financial strength relative to others in the same market. The global local currency rating can be used to compare relative credit risk of companies on a globally comparable basis, the agency said. Moody's Latin America forms part of international ratings agency Moody's.