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Capitalization Remains A Key Component Of Global Multiline Insurers' Creditworthiness Amid Uncertain Market Conditions Feb 11
Standard & Poors, Feb 2011
Abstract
Global multiline insurers' (GMIs) capital positions have recovered significantly since 2008, in Standard & Poor's Ratings Services' view. Despite these improvements, we expect capitalization to remain a key rating consideration in 2011 and beyond. (Watch related CreditMatters TV segment titled, 'Why Capitalization Remains A Key Rating Factor For Global Multiline Insurers,' dated March 1, 2011) We expect 2011 to remain a challenging year for insurers. We see a risk that asset markets could remain volatile because of continued concerns over sovereign debt, a factor that could weigh on GMIs' capital bases. We also anticipate that lower returns in invested assets will hamper insurers' results in 2011. In addition, we believe that upcoming adjustments to insurance supervision, such as Solvency II...
Companies mentioned in this report are: American International Group Inc.,Zurich Insurance Co. Ltd.,ING Verzekeringen N.V.,AEGON N.V.,ACE Ltd.,Allianz SE,Assicurazioni Generali SpA,AXA,XL Group Ltd.,QBE Insurance Group Ltd.,Secura N.V.,Aviva PLC,Zurich Financial Services,Prudential Financial Inc.
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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