Groupama CEO Azéma sacked after Fitch and S&P action
A senior rating analyst has played down fears a raft of major European insurers could be on the end of downgrades in the wake of the European Union debt crisis.
Last week, Groupama sacked its chief executive Jean Azéma after it was downgraded to BBB by both Fitch and Standard & Poor’s.
Federico Faccio, senior director at Fitch Ratings, explained that while
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