S&P shifts insurers’ ratings rule

Standard & Poor’s will change the way it assigns global ratings to insurers, in part to increase the consideration of country risk in the way a company is evaluated, the credit ratings agency said yesterday.

The changes will apply to all insurance lines except bond and mortgage.

In a statement, S&P analysts said the “significant majority” of company ratings would be either unchanged or moved by at most one notch as a result of the new criteria.