Research Update: Thai Reinsurance Public Co. Ltd. 'BBB+' Rating Affirmed With Negative Outlook On Recapitalization Plan Mar 12
- Language: English
- Published: March 2012
- Region: Thailand
The rating on Thai Reinsurance Public Co. Ltd. (Thai Re) reflects the company's good market position and its historically consistent operating performance. We assess Thai Re's capitalization to be commensurate with the current rating level, provided the company' losses due to the flooding in Thailand are within its retrocession limits. We placed the ratings on Thai Re on CreditWatch with negative implications because we believe the company's financial profile could be negatively affected if flooding-related losses are much higher than we expected. We believe Thai Re's exposure to the floods is significant, given that the company is a large reinsurer in Thailand. Thai Re's risk exposure could be significant relative to its small absolute capital base and earnings depending on...
Companies mentioned in this report are: Thai Reinsurance Public Co. 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.
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.
SHOW LESS READ MORE >
Thai Reinsurance Public Co. Ltd.