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ARCHIVE | Criteria | Insurance | Bond: Standard & Poor's Reassesses Credit Given For Reinsurance And Soft Capital In Its Bond Insurance Capital Adequacy Model Jan 03
Standard & Poors, Jan 2003
Abstract
Standard & Poor's Ratings Services last reassessed the credit that monoline bond insurers and reinsurers receive relating to their use of reinsurance and other forms of third-party supplied capital ('soft capital') nearly 10 years ago. Since then, significant change has occurred with regard to analytic tools and techniques for assessing risk, soft capital products available, and reinsurance industry dynamics and performance. As a result, Standard & Poor's has completed a review of soft capital criteria as a component of its review of the bond insurance capital adequacy model. Other aspects of the model are currently under review and we expect to announce our conclusions later this year. Credit given for reinsurance from monoline reinsurers includes the following changes: For 'AAA'...
Companies mentioned in this report are: Ambac Assurance Corp.,MBIA Insurance 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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