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Aviabel Cie. Belge d'Assurances Aviation S.A. Dec 11
Standard & Poors, Dec 2011
Abstract
Strong capitalization. Solid, albeit weakening, operating performance. Relatively weak overall competitive position. Exposure to market risk. The insurer financial strength rating on Belgium-based aviation insurer Aviabel Cie. Belge d'Assurances Aviation S.A. (Aviabel) reflects Standard & Poor's Ratings Services' view of its solid operating performance and strong capitalization. Offsetting these positive factors are the company's relatively weak overall competitive position and the exposure of its earnings to market risk. Aviabel's capitalization is strong, supported by extremely high capital adequacy, according to our criteria, built through historically solid earnings retention and comfortable equalization reserves. A conservative reinsurance program set to cover severe losses reinforces our views of the company's capitalization. Our 'strong' opinion of its capitalization compared with its 'extremely strong' level...
Companies mentioned in this report are: Aviabel Cie. Belge d'Assurances Aviation S.A.
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.
Research Type: Full Analysis
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