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ARCHIVE | Criteria | Insurance | Bond: Bond Insurer Holding Company Criteria Jun 06
Standard & Poors, June 2006
Abstract
Much of the criteria used to evaluate bond insurance holding companies are similar to those used to evaluate other financial institutions. However, given the unique regulatory and operating environment that insurers operate within, along with the unparalleled credit and rating sensitivity of the bond insurers in terms of the viability of their franchise, there are some key differences. Standard & Poor's Ratings Services evaluates the parent companies of bond insurance organizations relative to the operating insurance company subsidiaries they own. In the simplest cases, the holding company evaluation is directly related to the creditworthiness of the subsidiary. This approach is used if the holding company is a true holding company (if the holding company has no operating characteristics in its...
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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