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Australian Non-Life Insurers Remain Robust Despite Floods Dampening Results, S&P Report Says Aug 07
Standard & Poors, Aug 2007
Abstract
MELBOURNE (Standard & Poor's) Aug. 14, 2007-From October 2006 to August 2007, the Australian non-life insurance industry underwent a deluge of activity that is changing the industry landscape permanently, according to a report published today by Standard & Poor's Ratings Services. The report titled, 'Australian Non-Life Insurance: Tempestuous Waters But Wind Still In Sails', documents some of the events impacting the industry in the period, including major consolidation in the domestic market, ambitious expansion drives into international markets, regulatory developments, and some extreme weather-related events that will dampen the upcoming reporting season. The report also details some of the trends and risks to the stability of the industry from a Standard & Poor's perspective. 'Despite the rough patches, profitability for...
Companies mentioned in this report are: Insurance Australia Ltd.,Suncorp Metway Insurance Ltd.,Zurich Australian Insurance Ltd.,Wesfarmers General Insurance Ltd.,Allianz Australia Insurance Ltd.,QBE Insurance (Australia) Ltd.,Wesfarmers Federation Insurance Ltd.,ACE Insurance Ltd. (Australia),Calliden Insurance Ltd.,Ansvar Insurance Ltd.
Action: General Comment
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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