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European Insurance: 2006 In Review, 2007 In Anticipation Dec 06
Standard & Poors, Dec 2006
Abstract
Standard & Poor's Ratings Services considers that the insurance sector in Europe has enjoyed a very good year in 2006, aided by the absence of the large losses that characterized 2005. Insurers' strong results have been driven by peak-of-the-cycle underwriting profits in the non-life sector, and solid investment performance. In the life sector, meanwhile, an increase in interest rates has helped to ease pressures over contract guarantees. At present, 79% of insurance ratings are assigned a stable outlook or developing CreditWatch listing, 16% a positive outlook or CreditWatch listing, and just 5% a negative outlook or CreditWatch status. Factors that might upset this stable environment include poor execution of acquisitions and investment market volatility. Equally, further positive outlook revisions could...
Companies mentioned in this report are: Swiss Reinsurance Co. Ltd.,AXA Versicherungen AG,RSA Insurance Group PLC,Lloyd's,SCOR SE,AXA,Swiss Re Solutions Holding Corp.,Gerling-Konzern Allgemeine Versicherungs-AG,AmerUs Group Co.,N.V. Interpolis Schade,Achmea B.V.,CNP Assurances,Interpolis BTL N.V.,HDI-Gerling Lebensversicherung AG,Aviva PLC,Talanx AG,SCOR Switzerland AG,SCOR Global Life Rueckversicherung AG,Standard Life Assurance Ltd.
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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