Ratings on Amlin and its operating subsidiaries will be unaffected following its acquisition offer from Mitsui Sumitomo Insurance Group (MS&AD), according to rating agency Standard & Poor's (S&P).
Amlin's board of directors announced yesterday that it had received an offer from MS&AD to acquire 100 percent of Amlin's shares for approximately £3.5 billion. The Amlin board unanimously recommended this offer to its shareholders.
“Under S&P’s policies, only a rating committee can determine a credit rating action, and this commentary and its subject matter have not been the subject of rating committee action and should not be interpreted as a change to, or affirmation of, credit rating or rating outlook,” said S&P.