Research Update: Mapfre Re Compania de Reaseguros, S.A. Jun 04
- ID: 1712612
- June 2004
- Standard & Poors
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
On June 3, 2004, Standard & Poor's Ratings Services affirmed its 'AA-' long-term counterparty credit and insurer financial strength ratings on Spain-based reinsurer Mapfre Re Compa--a de Reaseguros, S.A. (Mapfre Re) and U.S.-based subsidiary Mapfre Reinsurance Corp. (MRC). The outlook on both entities is stable. The ratings on Mapfre Re reflect the company's strong and improving operating performance, increasingly strong competitive position in the Spanish-speaking world, and extremely strong capitalization. Offsetting these positive factors is the company's exposure to sovereign risk in Latin America. The ratings on Mapfre Re and MRC also factor in the implied financial support provided by Spanish insurance group Sistema Mapfre (the Mapfre group), and reflect their status as strategically important subsidiaries of Spain-based insurer Mapfre...
Companies mentioned in this report are: Mapfre Re, Compania de Reaseguros, S.A.,Mapfre Reinsurance Corp.,Mapfre S.A.,Musini, S.A. de Seguros y Reaseguros,Mapfre Mutualidad de Seguros y Reaseguros a Prima Fija
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