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
A.M. Best affirmed the "a-" long-term issuer credit rating of Ameriprise Financial Inc.
The rating agency also affirmed the A+ financial strength rating and the "aa-" long-term issuer credit ratings of RiverSource Life Insurance Co. and its subsidiary, RiverSource Life Insurance Co. of New York. Additionally, A.M. Best affirmed the financial strength rating of A and the long-term issuer credit rating of "a+" of Ameriprise Captive Insurance Co.
The outlook of these credit ratings is stable.
The ratings of RiverSource Life Insurance and its subsidiary reflect their very strong balance sheet, strong operating performance, favorable business profile and appropriate enterprise risk management.
Ameriprise Captive Insurance's ratings reflect its very strong balance sheet, strong operating performance, limited business profile and appropriate enterprise risk management.
Europe
S&P Global Ratings affirmed the BBB- long-term insurer financial strength and issuer credit ratings on Ingosstrakh Insurance Co. The outlook is stable.
The ratings on the company reflect its well-established market position in the Russian property and casualty insurance segment, its solid capitalization and the improving credit quality of its invested assets.
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S&P Global Ratings affirmed the A- long-term issuer credit and financial strength ratings on the core operating entities of the PZU Group.
The outlooks on all entities remain positive because the group is well positioned to leverage its strong footing in Poland's insurance, banking and asset management sectors to solidify its track record of robust, stable earnings and sector outperformance, according to the rating agency.
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S&P Global Ratings affirmed the BB- financial strength and issuer credit ratings of Rosgosstrakh PJSC.
The outlook was revised to positive from stable, reflecting the rating agency's expectation that the company will continue to maintain strong capital levels over the next 12 to 18 months through profit retention and will not make any dividend payments in the next three years.
Asia-Pacific
A.M. Best removed from under review with negative implications and affirmed the C+ financial strength rating and the "b-" long-term issuer credit rating of Capital General Insurance Co. Ltd.
The outlook assigned to these credit ratings is negative, reflecting the rating agency's expectation of near-term pressure on operating performance and the potential for continued volatility in risk-adjusted capitalization.
The ratings reflect Capital General Insurance's adequate balance sheet strength, strong operating performance, limited business profile and weak enterprise risk management.
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A.M. Best affirmed the financial strength rating of C- and the long-term issuer credit rating of "cc" of Capital Life Insurance Co. Ltd.
The outlooks were revised to stable from negative, reflecting the rating agency's expectation that the company's balance sheet strength fundamentals will show an improving trend over the medium term.
The ratings reflect Capital Life Insurance's weak balance sheet, adequate operating performance, limited business profile and weak enterprise risk management.
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A.M. Best affirmed the financial strength rating of A+ and the long-term issuer credit rating of "aa-" of South Korea-based Construction Guarantee Cooperative.
The outlook of these credit ratings is stable.
The ratings reflect the company's balance sheet strength, which A.M. Best categorizes as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.
Moody's assigned an A2 insurance financial strength rating to Construction Guarantee Cooperative with a stable outlook.
The rating reflects the company's well-established franchise in its designated construction guarantee market, its strong capitalization relative to its risk taken, and low exposure to high-risk assets.
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A.M. Best affirmed the B++ financial strength rating and the "bbb+" long-term issuer credit rating of Co-operative Life Ltd.
The outlook of the credit ratings is stable.
The ratings reflect the company's adequate balance sheet strength, strong operating performance, limited business profile and appropriate enterprise risk management.
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A.M. Best affirmed the financial strength rating of A and the long-term issuer credit rating of "a" of Luen Fung Hang Insurance Co. Ltd.
The outlook of these credit ratings is stable.
The ratings reflect the company's very strong balance sheet, strong operating performance, neutral business profile and appropriate enterprise risk management.
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A.M. Best affirmed the financial strength rating of A- and the long-term issuer credit rating of "a-" of PT Asuransi Tugu Pratama Indonesia Tbk.
The outlook of these credit ratings is negative, reflecting the rating agency's ongoing concern over the company's risk management and its ability to manage its enterprise-wide risks and operations effectively.
The ratings reflect the company's balance sheet strength, which A.M. Best categorizes as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management. The ratings also factor in a neutral impact from the company's ultimate majority ownership by Indonesia's government.
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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