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ACE Insurance S.A. - N.V.
Standard & Poors, Aug 2003
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 ratings on ACE Insurance S.A. - N.V. (ACE Europe or the company) are based on its core status within the ACE group (main operating entities are rated A+/Negative/--), its well-diversified European franchise, its good capitalization, and its conservative investment strategy. These positive rating factors are offset by continued volatility in operating performance. Core member of the ACE group. The company is a key part of the ACE Overseas General division and one of the largest operations outside the U.S. The business written by ACE Europe is regarded as a key part of the ACE group strategy in Europe to provide greater diversification in primary business and broader geographical exposure. Well-diversified European franchise. ACE Europe has a strong pan-European business...
Companies mentioned in this report are: ACE Insurance S.A. - N.V.,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.,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 Bermuda Insurance Ltd.,Corporate Officers and Directors Assurance Ltd.,ACE INA Insurance ,ACE European Group Ltd.,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 Insurance Ltd. (Australia),ACE Capital Trust III,ACE Capital Trust IV
Action: Review
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