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Industry Report Card: North American Insurance Holding Cos. Endure Storms And Market Uncertainties Apr 06
Standard & Poors, April 2006
Abstract
The U.S. life insurance industry has experienced a greater sense of stability due to the relatively benign market conditions. Earnings growth has been restrained by the continuation of low interest rates and only modest increases in equity markets. Yet tough competition has increased product risk, and integration risks have risen in importance in response to renewed mergers and acquisition activity. In this environment, prudent risk management practices have grown in scope and complexity to the point where enterprise risk management has emerged as an important analytical factor in differentiating ratings. Standard & Poor's Ratings Services' expectation is that the recent relative stability will continue into 2006 and our sector outlook remains stable. Positive and negative credit rating movements are expected...
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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