ARCHIVE | Criteria | Insurance | Specialty: Rating Financial Product Companies Higher Than Related Insurance Companies Apr 04
Standard & Poors, April 2004
Abstract
Standard & Poor's Ratings Services has written this article to explain its criteria and analytical process relating to determining the rating on and expected capitalization of subsidiaries and other entities that are created by insurance companies to facilitate various financial-product businesses. The article describes the analysis of financial product companies (FPCs) that are rated the same as or higher than the associated insurance company. The article begins by giving a general overview of Standard & Poor's analytical considerations and discusses various examples of insurance-related FPCs for which we have assigned a rating or analyzed risked-based capital adequacy, which is reflected in the rating on the parent. The remainder of the article provides insight into the various components of Standard &...
Companies mentioned in this report are:
- General Electric Capital Corp.
- SunAmerica Life Insurance Co.
- AIG Financial Products Corp.
- The Goldman Sachs Group Inc.
- Goldman Sachs Mitsui Marine Derivative Products L.P.
- MBIA Investment Management Corp.
- Trinity Funding Co. LLC
- Swiss Re Financial Products Corp.
- Mitsui Sumitomo Insurance Co. Ltd.
- Tokio Marine Financial Solutions Ltd.
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.
- General Electric Capital Corp.
- SunAmerica Life Insurance Co.
- AIG Financial Products Corp.
- The Goldman Sachs Group Inc.
- Goldman Sachs Mitsui Marine Derivative Products L.P.
- MBIA Investment Management Corp.
- Trinity Funding Co. LLC
- Swiss Re Financial Products Corp.
- Mitsui Sumitomo Insurance Co. Ltd.
- Tokio Marine Financial Solutions Ltd.
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