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Australia Insurance Outlook 2004-2005 Aug 04
Standard & Poors, Aug 2004
Abstract
The credit quality outlook on the life insurance sector has stabilized as life insurers emerge from the shadows of volatile equity markets, poor investment returns, and depressed product cash flows. Credit quality for Australia's life insurers is expected to be relatively stable in 2004 following a period dominated by downgrades, and is supported by generally robust capitalization and the expectation of reasonably good earnings. The market remains dependent upon government support of the superannuation market, and profitability of participants continues to be exposed to investment market performance. The financial strength of Australia's life insurance companies is generally robust, with 85% of total industry assets held by companies rated 'A' or above by Standard & Poor's. The Australian insurance regulatory capital...
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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