EURCOEuropean Composite Unit
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19 August 2010 - Fitch reiterated on AThursday the insurer financial strength rating of BBB, assigned to Dublin-based reinsurer Eurco Re Limited, a wholly-owned unit of Dexia Insurance Belgium NV (DIB).
The move is based on an analysis of Eurco Re's financial position in 2009 and that of its immediate parent, which comprises, following recent sovereign debt market volatility, examination of both companies' exposures to various European sovereign debts, the agency said.
The rating evaluates Eurco Re's standalone financial profile and is also premised on Fitch's view of the likelihood for group support.