Italy's insurance regulator perplexed by S&P view on Generali
ROME Dec 10 (Reuters) - Italy's insurance regulator said on Tuesday that it was perplexed by S&P's putting the country's biggest insurer, Assicurazioni Generali, on negative creditwatch last month.
S&P's move "is perplexing" because the insurer's Italian assets and liabilities are well balanced, Salvatore Rossi, president of regulator Ivass, said during a testimony in the Senate.
Standard & Poor's placed the insurer on credit watch negative, pending an examination of its sovereign exposure, the ratings agency said last month.
Generali said it was surprised by Standard & Poor's decision, which it said followed the adoption of a new methodology by the ratings agency focusing on the relationship between the rating of the company and the country in which it is primarily based.
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