S&P Global Market Intelligence compiles ratings actions in the insurance space daily through 5 p.m. ET. Actions after 5 p.m. ET will be included in the following day's roundup.
U.S. and Canada
S&P Global Ratings affirmed the AA- insurer financial strength and long-term issuer credit ratings of Pacific LifeCorp's core operating subsidiaries.
The outlook is stable, reflecting the rating agency's view that the company will maintain its very strong business risk profile and capital redundancy at least at the AA confidence level.
The rating agency also revised Aviation Capital Group LLC's group status to nonstrategic within Pacific Life group, following the aircraft operating-lease company's announced sale to Tokyo Century Corp.
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S&P Global Ratings affirmed the BBB+ long-term issuer credit rating of Cincinnati Financial Corp. The rating agency also affirmed the A+ financial strength ratings of the company's subsidiaries.
The outlook is stable, reflecting the rating agency's expectation that the company will maintain capital adequacy at the AAA level and continue to improve risk diversification.
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S&P Global Ratings affirmed the BBB issuer credit rating of Aetna Inc. and its subsidiary, Aetna Health Holdings LLC. The rating agency also affirmed the A- issuer credit and financial strength ratings of the company's core insurance subsidiaries.
The outlook is stable, reflecting the rating agency's expectation that its parent CVS Health Corp. will generate solid operating results in 2019 to 2020. The rating agency expects the company's capital redundancy to remain borderline BBB redundant/deficient, with excess double leverage offsetting its regulated capital growth.
The ratings reflect Aetna's key stand-alone credit strengths, including its large membership base, good business diversity and a consistent, above-industry average return on revenue.
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S&P Global Ratings affirmed the BBB+ long-term issuer credit rating of RLI Corp. The rating agency also affirmed the A+ issuer credit and financial strength ratings of its operating subsidiaries, RLI Insurance Co. and Mt. Hawley Insurance Co.
The outlook is negative, reflecting the rating agency's uncertainty that RLI will be able to outperform its specialty peers despite its anticipation that the company will continue to identify profitable niches in the U.S. specialty market. The rating agency also expects that the company will rebuild a substantial capital buffer at the AA confidence level.
The ratings reflect the rating agency's view of the company's ability to identify and exploit profitable niches in the U.S. specialty markets, its excellent underwriting skills and long-standing relationships with brokers and high-credit-quality reinsurance partners.
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S&P Global Ratings affirmed the BBB+ long-term issuer credit rating of W. R. Berkley Corp. The rating agency also affirmed the A+ insurer financial strength and long-term issuer credit ratings of the company's core subsidiaries.
The outlook is stable, reflecting the rating agency's expectation that the company will maintain its strong competitive position and very strong capital adequacy, supported by consistently favorable operating results and its disciplined core underwriting strategy execution.
Asia-Pacific
Fitch Ratings affirmed the A-(idn) national insurer financial strength rating of Indonesia-based PT Reasuransi Nusantara Makmur. The rating agency simultaneously withdrew its rating for commercial reasons.
The affirmation reflects its parent PT Sinar Mas Multiartha Tbk's commitment to providing operational support to the company, which the rating agency regards as positive. The affirmation also reflects the company's strong capitalization, prudent investment approach and positive financial performance.
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S&P Global Ratings affirmed the A local currency long-term financial strength and issuer credit ratings of Shinkong Insurance Co. Ltd.
The outlook is stable, reflecting the rating agency's view that the company will maintain its very strong capital and earnings and its prudent hedging policy and investment strategy. The rating agency expects that the company will focus on good quality investments that will uphold its very strong financial risk profile over the next two years.
The ratings reflect the rating agency's view of the company's strong competitive position, supported by good control over its distribution channels and its satisfactory operating performance.
This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.
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