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Aflac Inc., American Family Life Assurance Co. of Columbus And Affiliates May 11
Standard & Poors, May 2011
Abstract
Very strong franchise value. No. 1 competitive position for supplemental health insurance in Japan and a very strong competitive position for supplemental insurance in the U.S. Very strong, stable earnings history. Extremely strong liquidity. Conservative debt leverage and very high interest coverage ratios. Investment concentrations. Capitalization remains below the rating level. The insurer financial strength rating on American Family Life Assurance Co. of Columbus (Aflac) is based on the company's very strong and stable earnings performance, its extremely strong liquidity, and the company's very strong competitive position. Offsetting these factors are Aflac's significant concentrations in its investment portfolio, and the difficult sales environment in the U.S. American Family Life Assurance Co. of NY (Aflac NY) is a wholly owned subsidiary...
Companies mentioned in this report are: American Family Life Assurance Co. of Columbus,American Family Life Assurance Co. of NY,American Family Life Assurance Co. - Japan Branch,Aflac Inc.
Action: Review
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: Full Analysis
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