Sagicor Life Downgraded To 'BB+' From 'BBB-' And Sagicor Finance To 'BB' From 'BB+' On Jamaica Downgrade Feb 13
- Language: English
- Published: February 2013
- Region: Jamaica
Dominant market position in the Caribbean region; Increasing geographic diversification; and Strong capitalization. Volatility on profits due to catastrophic exposures; and High, albeit decreasing, concentration in Jamaica. Standard & Poor's Ratings Services' counterparty credit and financial strength ratings reflect Sagicor Life Inc.'s (Sagicor) dominant market position as the leading life insurer in the Caribbean, increasing geographic diversification, and strong capitalization. These positive factors are partially offset by a relatively high, though decreasing, concentration of revenues (28%) in Jamaica in 2010; volatility on profitability ratios arising from the company's exposure to catastrophic risks arising from its property and casualty (P/C) business; and the challenging economic conditions in most of the economies where Sagicor does business. Sagicor has leading positions in the...
Companies mentioned in this report are: Sagicor Life Inc.
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