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2010 Could Witness Further Downgrades In The French Insurance Sector, Despite Sound Resistance So Far To The Economic Downturn Jan 10
Standard & Poors, Jan 2010
Abstract
The French insurance market has displayed good resilience in the past 15 months to the global financial and economic downturn, in Standard & Poor's Ratings Services' view. The bulk of our insurer financial strength ratings on French insurance companies remain in the 'A' category, including those with ratings that integrate one or more notches of uplift from the company's stand-alone credit profile, due to our expectation of support, if needed, or a guarantee from the parent. We believe, however, that capital adequacy in the sector has yet to be rebuilt on solid grounds, and that technical profitability has yet to be restored to levels observed prior to the downturn. We see potential for further downgrades of French insurers in 2010,...
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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