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ARCHIVE | Criteria | Insurance | General: What Makes An Insurance Or Reinsurance Subsidiary 'Core' Under Group Rating Methodology? Mar 05
Standard & Poors, March 2005
Abstract
As described in a series of criteria publications--one of the more recent of which was 'FI Criteria: Group Methodology For Financial Services Companies'--it is the long-established practice of Standard & Poor's Ratings Services to review the strategic status of all rated companies within the financial services groups to which they belong. In essence, each group company is classified relative to the rating committee's understanding of the group's strategic objectives and then, as discussed in Section 2 of this article, defined as either (1) Core, and rated at the notional group level, (2) Strategically Important (SI), and rated usually one grade (three notches) above its intrinsic, stand-alone level of financial strength, or (3) Nonstrategic, and rated at its stand-alone level, with...
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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