U.S. Property/Casualty Insurance 2012 Outlook: Still Stable For Personal Lines And Negative For Commercial Lines Dec 11
- Language: English
- Published: December 2011
- Region: United States
Strategic importance to Farmers Group Inc., a core unit of Zurich Financial Services. Top-three share of the U.S. personal lines insurance market, enhanced by the acquisition of 21st Century. Diverse product offerings and broad-based distribution channels. Concentration of business in Texas and California--two states prone to natural catastrophe and regulatory risks--that might result in greater earnings volatility. Constrained financial flexibility given high levels of quota-share reinsurance with affiliates and an above-average reliance on surplus notes in the capital structure. Above-average reliance on surplus notes weakens the quality of capital, and we recognize management's intent to manage capital efficiently. The insurer financial strength ratings on the members of Farmers Insurance Exchange group (collectively referred to as Farmers) reflect the group's fundamental...
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: Full Analysis
Farmers Insurance Exchange,Foremost Insurance Co. of Grand Rapids, MI,Fire Insurance Exchange,Truck Insurance Exchange,Mid-Century Insurance Co.,Farmers Insurance Co. of OR,Farmers Insurance Co. Inc.,Illinois Farmers Insurance Co.,Texas Farmers Insurance Co.,Farmers Insurance Co. of Arizona,Farmers Insurance Co. of Idaho,Farmers Insurance Co. of WA,Farmers Insurance Co. of Columbus (OH),Mid-Century Insurance Co. of Texas,21st Century Premier Insurance Co.,21st Century Preferred Insurance Co.,21st Century Centennial Insurance Co.,21st Century Casualty Co.,American Federation Insurance Co.,21st Century Pacific Insurance Co.,21st Century North America Insurance Co.,21st Century Superior Insurance Co.,Foremost County Mutual Insurance Co.,Foremost Property & Casualty Insurance Co.,Foremost Signature Insurance Co.,21st Century Indemnity Insurance Co.,21st Century Advantage Insurance Co.,21st Century Insurance Co.,21st Century Insurance Co. of the Southwest,21st Century Pinnacle Insurance Co.,Farmers Texas County Mutual Insurance Co.