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Summary: RGA Reinsurance Co. of Australia Ltd. Nov 11
Standard & Poors, Nov 2011
Abstract
The rating on Australian life reinsurer RGA Reinsurance Co. of Australia Ltd. (RGA Australia; AA-/Stable/--) reflects our opinion of the company's 'core' status within, and combined strength of, the RGA Reinsurance Group of companies. As such, RGA Australia's rating is equalized with the creditworthiness of the RGA Reinsurance Group. We consider RGA Australia to be a 'core' entity of the RGA Reinsurance Group. The company is wholly owned by the RGA Reinsurance Group, has product lines consistent with the group, services the group's multinational clients, and is a material part of global operations, contributing around 5% of equity. In our view, RGA Australia has a strong stand-alone credit profile, reflecting the prospective strong life-industry growth in Australia, significant market share,...
Companies mentioned in this report are: RGA Reinsurance Co. of Australia Ltd.
Action: Review
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
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