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Royal Bank of Canada Insurance Co. Ltd. 'AA-' Ratings Affirmed; Outlook Stable Oct 03 Product Image

Royal Bank of Canada Insurance Co. Ltd. 'AA-' Ratings Affirmed; Outlook Stable Oct 03

  • Published: October 2003
  • Region: Canada
  • Standard & Poors

Abstract
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

Action: Affirmed

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- Royal Bank of Canada Insurance Co. Ltd.
- Royal Bank of Canada

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