- Language: English
- 1091 Pages
- Published: October 2012
- Region: Global
Top Layer Reinsurance Ltd. Nov 11
- Published: November 2011
- Standard & Poors
Strong and explicit support from both of its shareholders: State Farm Mutual Automobile Insurance Co. (AA/Stable/--) and Renaissance Reinsurance Ltd. (RenRe; AA-/Stable/--) Seasoned management team with extensive property catastrophe underwriting expertise Shareholders' highly aligned interests Very strong operating performance in most years, as superior historical underwriting results demonstrate Concentration in property catastrophe line of business, which exposes the company to the market's cyclicality Exposure to foreign exchange volatility risk, although structural protections are in place The ratings on Top Layer Reinsurance Ltd. are based on the company's continued reliance on support from its shareholders, State Farm Mutual Automobile Insurance Co. and Renaissance Reinsurance Ltd. (RenRe). Top Layer Re is a 50/50 joint venture between State Farm and RenRe. Standard &...
Companies mentioned in this report are: Top Layer Reinsurance Ltd.,State Farm Mutual Automobile Insurance Co.,Renaissance Reinsurance 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: Full Analysis
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Top Layer Reinsurance Ltd.,State Farm Mutual Automobile Insurance Co.,Renaissance Reinsurance Ltd.