Research Update: Thai Reinsurance Public Co. Ltd. 'BBB+' Rating Affirmed With Negative Outlook On Recapitalization Plan Mar 12
- ID: 2086225
- March 2012
- Region: Thailand
- Standard & Poors
Thailand's largest domestic reinsurer, Thai Re, has announced a plan that we believe will restore its capitalization to a level commensurate with the rating. The company has significant risk exposure to the recent flooding in Thailand; it has reported THB8.8 billion in estimated net losses so far. We are affirming the 'BBB+ ' local currency counterparty credit and insurer financial strength ratings on Thai Re and the 'axA+' ASEAN regional scale rating. The negative outlook on Thai Re reflects our uncertainty over the final flood-related losses and the effect of weakened capitalization on the company's business profile. On March 8, 2012, Standard & Poor's Rating Services affirmed its 'BBB+' long-term local currency counterparty credit and insurer financial strength ratings on...
Companies mentioned in this report are: Thai Reinsurance Public Co. Ltd.
Action: Outlook: Negative
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
SHOW LESS READ MORE >