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Asia Capital Reinsurance Group Pte Ltd. Dec 11
Standard & Poors, Dec 2011
Abstract
Satisfactory financial profile Conservative investment profile Fluctuating underwriting performance due to recent catastrophe losses in Asia-Pacific Lowered capitalization, which reflects the effects of multiple catastrophic events and fast premium growth The ratings on Asia Capital Reinsurance Group Pte. Ltd. (ACR) reflect the company's satisfactory financial profile and conservative investment profile. ACR's risk-adjusted capitalization remains supportive of its rating, although it is lower than in 2010, reflecting the company's growth in recent years. Nevertheless, we believe that ACR's credit profile could weaken if ultimate losses from the recent floods in Thailand exceed the company's current protection from its retrocession cover. The recent CreditWatch action on ACR reflects this view. While market loss estimates are still evolving, the company's ultimate aggregate losses...
Companies mentioned in this report are: Asia Capital Reinsurance Group Pte 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.
Research Type: Full Analysis
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