MLC Lifetime Co. Ltd. Mar 09
Standard & Poors, March 2009
Abstract
Core component of National Australia Bank Ltd.'s wealth management business Very strong credit profile of the sole customer, MLC Ltd. Supportive capital adequacy Reliance on a single customer Exposure to financial-market and economic conditions The NWMH group is the partner of choice for about 1,400 self-employed, aligned, and salaried advisers in Australia and holds relationships with a large number of independently owned and licensed advisers who choose the NWMH group's financial solutions to meet the needs of their clients. Wealth management revenue at NAB remains concentrated in the domestic market, with more than 85% of its operating revenue generated from Australia. Reinsurance of MLC's pure protection business is likely to remain the sole business of MLC Lifetime as the company...
Companies mentioned in this report are: MLC Lifetime Co. Ltd.,National Australia Bank Ltd.,MLC Ltd.,National Wealth Management Holdings 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
MLC Lifetime Co. Ltd.,National Australia Bank Ltd.,MLC Ltd.,National Wealth Management Holdings Ltd.
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