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Australia's Non-Life Insurance Earnings Lashed By Storms, But Reinsurance Provides Protection, Report Says Apr 11
Standard & Poors, April 2011
Abstract
MELBOURNE (Standard & Poor's) April 18, 2011--Standard & Poor's Ratings Services said today that Australia's rated non-life insurance sector is financially well placed to meet the costs of recent natural disasters, including the floods and cyclone that hit the state of Queensland. 'While the spate of recent domestic natural disasters is bound to drag on earnings in the short-term, we expect the sector's capital strength and reinsurance protection will limit negative rating pressure,' Standard & Poor's credit analyst Mark Legge said. In a report published today, titled 'Australia's Non-Life Insurance Sector Earnings Lashed By Storms, But Reinsurance Provides Protection', Standard & Poor's said it will watch how likely increases in insurance premiums counter the cost of higher claims and reinsurance...
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.,ACE Insurance Ltd. (Australia),Chartis Australia 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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