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The Insurance Industry Has Stayed Afloat, But It's Not Yet Out Of Troubled Waters Jan 10
Standard & Poors, Jan 2010
Abstract
For most financial institutions, the bursting of the real estate bubble and the ensuing credit crunch and recession have taken an enormous toll and, in many respects, could well have transformed entire lines of business. North American insurers, however-with the notable exception of American International Group Inc.-have generally fared well through what have likely been the worst market conditions of the last 70 years. This is largely because many insurers' strong earnings in recent years built up excess capital, which allowed them to absorb most of the credit shocks of the last 18 months. We believe that manageable levels of credit exposure and healthy liquidity also helped insurers stay afloat through the recent financial crisis. Still, the challenges across all...
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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