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Travelers Cos. Inc. And Operating Subsidiaries Aug 11
Standard & Poors, Aug 2011
Abstract
Excellent brand name recognition and leading market presence in the U.S. property/casualty insurance marketplace. Industry-leading operating performance and strong capital adequacy. Moderate financial leverage. Excellent enterprise risk management. Exposure to natural and man-made catastrophes. Susceptibility to potential prior-year adverse reserve development, particularly from asbestos and environmental. Exposure to earnings compression because of competitive market conditions. The counterparty credit rating on The Travelers Cos. Inc. and the insurer financial strength ratings on its insurance company subsidiaries (collectively, Travelers) reflect the group's leading market position, very strong operating performance and capitalization, moderate financial leverage, and very strong fixed-charge coverage. Based on $21.5 billion of 2010 statutory direct premium written, Travelers was the sixth-largest property/casualty (P/C) group in the U.S. As of June...
Action: Review
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
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