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ACE Insurance
Standard & Poors, April 2011
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
Strategically important member of the ACE group Conservatively managed investments Strong capitalization and reinsurance Modest competitive position Higher expense ratio than its peers The ratings on ACE Insurance reflect the strong implicit support from its parent, ACE Group (core operating companies rated AA-/Stable/--). The ratings also reflect ACE Insurance's strong capitalization, conservative and high-quality investment portfolio, and reinsurance support from the group. These strengths are moderated by the insurer's niche but modest market position in the Japanese non-life insurance sector and its relatively high expense ratio. ACE Insurance is a strategically important subsidiary of the ACE group, a major international insurance group based in Switzerland, providing support to the parent's international expansion strategy. ACE Insurance reports directly to ACE Far...
Companies mentioned in this report are: ACE Insurance
Action: Review
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