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ARCHIVE | Criteria | Insurance | Specialty: New Insurance Capital Model Embraces Trends In Risk Management Jan 02
Standard & Poors, Jan 2002
Abstract
In its ongoing effort to meet the changing needs of insurance companies, Standard & Poor's has developed a new financial product company (FPC) model that incorporates an insurer's management and tolerance of risk into the analysis of capital adequacy. As an optional service, Standard & Poor's has applied the FPC model to insurance companies, including ING Institutional Markets (ING), to determine the recommended capital adequacy relating to their non-insurance businesses such as the issuance of guaranteed investment contracts (GICs) and other forms of operational leverage. This model was developed in response to the increasing spread arbitrage activities of certain life insurers and the continued refinement of risk management activities by various insurance companies. Another key development driving this FPC model...
Companies mentioned in this report are: National Rural Utilities Cooperative Finance Corp.,Ford Motor Credit Co. LLC,General Mills Inc.,Bank of America Corp.,Sears, Roebuck and Co.,Fannie Mae,Aon Corp.
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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