Research Update: Thai Reinsurance Public Co. Ltd. Rating Affirmed At 'BBB+' After Insurance Criteria Change; Outlook Negative Jun 13
- Language: English
- Published: June 2013
- Region: Thailand
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
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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.
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Thai Reinsurance Public Co. Ltd.