Generali under S&P observation

(ANSA) – Milan, November 26 – Standard & Poor’s put Italian insurance giant Generali under observation on Tuesday. The rating agency said Generali risked a downgrade along with eight other European and African insurance groups S&P put under observation. The move is related to planned stress tests in order to take into account exposure to sovereign debt, S&P said in a statement.

S&P revised Generali’s rating to A- from A in July with a negative outlook. At the time S&P said it continues to view Generali as having “a very strong business risk profile based on international diversification”.