NEW YORK (Standard & Poor's) Oct. 17, 2003--Standard & Poor's Ratings Services affirmed its 'AA-' counterparty credit and financial strength ratings on Royal Bank of Canada Insurance Co. Ltd. (RBCICL) based on RBCICL's status as a core member of Royal Bank of Canada (RBC) (AA-/Stable/A-1+) group as well as the maturation of its business plan, its strong capital adequacy, and its very strong operating profitability throughout the rating history. Standard & Poor's also said that the outlook on RBCICL is stable. "The fundamental strength of the rating is tied to the incoming European life reinsurance business," said Standard & Poor's credit analyst Rodney A. Clark. "Partially offsetting these strengths is the company's continued development in its other lines of business,...
Companies mentioned in this report are:
- Royal Bank of Canada Insurance Co. Ltd.
- Royal Bank of Canada
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.