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Enterprise Risk Management And The Smaller Insurer Nov 07 Product Image

Enterprise Risk Management And The Smaller Insurer Nov 07

  • ID: 1833365
  • November 2007
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services introduced enterprise risk management (ERM) as one of the eight main categories of its analysis of insurers in October 2005. Prior to that, however, risk management had always been the focus of the analysis, although in a less explicit form. This is because risk is at the heart of what insurers do and what Standard & Poor's assesses in its credit ratings. For most insurers, ERM resulted in a reorganization of pre-existing analysis rather than the introduction of many new requirements. Since the introduction, ERM evaluation has provided a more disciplined tool to understand how the insurer manages its risks as part of the rating rationale. ERM is substantially aligned with Solvency II in Europe...

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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