Research Update: Legal & General Group PLC's Core Subsidiaries 'AA-' Ratings Affirmed After Insurance Criteria Change; Outlook Stable May 13
- Language: English
- Published: May 2013
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
The ratings on U.K.-based life insurer Legal & General Assurance Society Ltd. (LGAS) are based on its very strong competitive position in the U.K., very strong consolidated capital adequacy, and robust underlying operating performance. These strengths are partly offset, however, by the challenging operating environment for U.K. life insurers and its limited geographic diversification. LGAS is the core operating subsidiary of Legal & General Group PLC (L&G). L&G's very strong position in the U.K. financial services market is based on its diverse distribution, high-quality retail product range, expertise in index-tracking fund management, and strong brand. L&G continues to be successful in securing strategic alliances and leveraging group synergies across its risk, savings, and asset management operations to support its market...
Companies mentioned in this report are: Legal & General Assurance Society Ltd.,Legal & General Group PLC
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Legal & General Assurance Society Ltd.,Legal & General Group PLC