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ACE Insurance Ltd.
Standard & Poors, May 2002
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
Abstract
The insurer financial strength rating on general insurer ACE Insurance Ltd. (ACE Ins.) reflects the company's strategic importance to the Bermuda-based ACE group, its high-quality investment portfolio, good capitalization, and high level of reinsurance coverage. These strengths are offset by ACE Ins.'s small market share and relatively weak profitability. ACE Ins. operates throughout Australia, principally in property and casualty insurance, as well as accident, health, and financial lines, including specialty coverage in the corporate market. ACE Ins. is strategically important to its ultimate parent ACE Ltd. (ACE) and the ACE group. ACE is a major international insurance and reinsurance group with worldwide distribution capability, and total assets exceeding US$37 billion at Dec. 31, 2001. ACE Ins. was renamed from CIGNA...
Companies mentioned in this report are: ACE Insurance Ltd. (Australia),Insurance Co. of North America,ACE Property & Casualty Insurance Co.,Westchester Fire Insurance Co.,ACE Indemnity Insurance Co.,Allied Insurance Co.,Atlantic Employers Insurance Co.,Bankers Standard Fire & Marine Co.,Bankers Standard Insurance Co.,Illinois Union Insurance Co.,ACE Employers Insurance Co.,ACE American Insurance Co.,Pacific Employers Insurance Co.,Assured Guaranty Corp,ACE Fire Underwriters Insurance Co.,ACE Insurance Co. of the Midwest,ACE Insurance Co. of Texas,ACE Insurance Co. of Illinois,ACE Insurance Co. of Ohio,ACE Ltd.,Westchester Surplus Lines Insurance Co.,ACE Financial Services Inc.,Century Indemnity Co.,ACE American Lloyd's Insurance Co.,Indemnity Insurance Co. of North America,INA Surplus Insurance Co.,Assured Guaranty Mortgage Insurance Company,Assured Guaranty Re Overseas Ltd.,ACE Capital Title Reinsurance Co.,ACE Tempest Reinsurance Ltd.,ACE Insurance S.A. - N.V.,ACE Bermuda Insurance Ltd.,Corporate Officers and Directors Assurance Ltd.,ACE INA Insurance ,ACE INA Holdings Inc.,ACE Bermuda International Insurance (Ireland) Ltd.,ACE Bermuda International Reinsurance (Ireland) Ltd.,Assured Guaranty Re Ltd.,ACE Tempest Life Reinsurance Ltd.,ACE Insurance ,ACE Capital Trust III,ACE Capital Trust IV
Action: Review
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