Bangkok Insurance And Dhipaya Insurance 'A-' Ratings Placed On CreditWatch Negative On Likely Flood Losses Nov 11
- Language: English
- Published: November 2011
The rating on Bangkok Insurance Public Co. Ltd. reflects the company's strong competitive position within Thailand's property and casualty insurance industry and Bangkok Insurance's good operating performance. The rating also reflects the company's adequate capitalization. Bangkok Insurance's aggressive investment profile tempers these strengths. We have placed the rating on Bangkok Insurance on CreditWatch with negative implications because we expect the company's operating performance to materially weaken following the recent flooding in Thailand. We believe the company's financial profile could be negatively affected if loss development from the flooding is much higher than we expected. Bangkok Insurance's third rank among property and casualty insurers in Thailand and company's 7.7% market share in terms of gross premiums written at the end of...
Companies mentioned in this report are: Bangkok Insurance 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 >