trending Market Intelligence /marketintelligence/en/news-insights/trending/xIqS_x7Z44WOS0bmWi3irw2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Insurance ratings actions: Fitch affirms Alleghany; S&P acts on Lincoln National

Part Two IFRS 9 Blog Series: The Need to Upgrade Analytical Tools

2018 US Property Casualty Insurance Market Report

Fintech

Fintech Funding Flows To Insurtech In February

Lemonade Growing Premiums Faster Than Esurance's Homeowners Business Did


Insurance ratings actions: Fitch affirms Alleghany; S&P acts on Lincoln National

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

Fitch Ratings affirmed the A- long-term issuer default ratings of Alleghany Corp. and subsidiary Transatlantic Holdings Inc.

The rating agency also affirmed the A insurer financial strength ratings of Covington Specialty Insurance Co., RSUI Indemnity Co. Inc. and Landmark American Insurance Co., as well as the A+ insurer financial strength ratings of Fair American Insurance & Reinsurance Co. and Transatlantic Reinsurance Co.

Fitch's affirmation of Alleghany's ratings reflects the company's moderate reinsurance and insurance business profiles, strong earnings, very strong capitalization, modest financial leverage, strong fixed-charge coverage and sizable holding company cash and securities.

______________________

S&P Global Ratings affirmed the A- long-term issuer credit rating of Lincoln National Corp., Lincoln Financial Group's non-operating holding company.

The rating agency also affirmed the AA- long-term issuer credit and financial strength ratings on Lincoln National Life Insurance Co., Lincoln Life & Annuity Co. of New York and Liberty Life Assurance Co. of Boston

The outlook on all of these ratings is stable, taking into account Lincoln Financial Group's competitive advantages and robust risk management.

______________________

S&P Global Ratings affirmed the A- long-term issuer credit and financial strength ratings of First Penn-Pacific Life Insurance Co.

The outlook is stable, reflecting the company's significant capital redundancy at the AAA level, based on the rating agency's risk-based capital model.

______________________

S&P Global Ratings affirmed the AA+ insurer financial strength and long-term issuer credit ratings of Northwestern Mutual Life Insurance Co. and subsidiary Northwestern Long Term Care Insurance Co.

The ratings reflect the group's excellent business risk and financial risk profiles.

The outlook is stable, taking into account S&P Global Ratings' expectation that the group will continue to have an excellent competitive position and maintain excellent capital and adequate liquidity.

______________________

S&P Global Ratings placed the AA- long-term issuer credit and financial strength ratings of Mutual of Omaha Insurance Co. and its subsidiaries on CreditWatch with negative implications.

The CreditWatch placement follows Mutual of Omaha's announcement that it is selling its banking operations to CIT Bank NA. The rating agency said it will resolve the CreditWatch when the deal closes.

S&P Global Ratings warned that it could lower the ratings of the group as it will no longer benefit from steady earnings from the banking operations after the deal is completed.

______________________

S&P Global Ratings affirmed the A- issuer credit rating of Savings Bank Mutual Life Insurance Co. of Massachusetts.

The ratings reflect the agency's view of the company's fair competitive position as a term insurance writer, along with whole life, bank-owned life, and deferred and immediate annuities.

The outlook is stable, taking into consideration S&P Global Ratings' expectation that the company will maintain its fair competitive position and AAA level capitalization.

______________________

S&P Global Ratings affirmed the AA+ insurer financial strength and long-term issuer credit ratings of Guardian Life Group's core subsidiaries.

The outlook is stable, reflecting the rating agency's expectation that Guardian Life will maintain its very strong business risk and excellent financial risk profiles, and that the company's risk profile will continue to be superior to comparable peers due to the lower-risk nature of its liabilities.

______________________

A.M. Best affirmed the financial strength ratings of A and the long-term issuer credit ratings of "a+" of Standard Insurance Co. and its affiliate, Standard Life Insurance Co. of New York.

Concurrently, A.M. Best affirmed the financial strength rating of A and the long-term issuer credit rating of "a" of Pacific Guardian Life Insurance Co. Ltd.

The outlook of these credit ratings is stable.

The ratings of Standard Insurance and Standard Life reflect their balance sheet strength, which A.M. Best categorizes as strong, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.

The ratings of Pacific Guardian reflect its balance sheet strength, which A.M. Best categorizes as strongest, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.

______________________

S&P Global Ratings affirmed the BBB+ long-term issuer credit rating of StanCorp Financial Group Inc. and the A+ long-term issuer credit and financial strength ratings of its operating subsidiary, Standard Insurance Co.

The ratings reflect the company's strong business risk profile supported by the consistent operating performance from its diversified product portfolio and its long-standing established market positions in group disability, accidental death and dismemberment, and individual disability insurance.

The outlook is stable as the rating agency expects StanCorp to improve its market position as it strengthens its distribution relationships.

Europe

Fitch affirmed the insurer financial strength rating of A- and the issuer default rating of BBB+ of Ethias SA.

The outlooks were revised to positive from stable, reflecting Fitch's expectation that the company will maintain its strong capitalization and financial leverage ratio in 2019.

The ratings primarily reflect Ethias' strong capitalization and leverage, good profitability and strong business profile.

Middle East and Africa

S&P Global Ratings affirmed the zaAAA South Africa national scale rating of Liberty Group Ltd.

The ratings on Liberty reflect the group's strong competitive position.

______________________

Fitch affirmed the B insurer financial strength rating of Nova Sociedade de Seguros de Angola SA.

The outlook was revised to negative from stable, reflecting the rising sovereign risk driven by the weakening operating environment in Angola, worsening sovereign debt metrics, a continued fall in external reserves and a slower-than-expected economic recovery.

Nova Sociedade's rating reflects the company's investment exposure to sovereign risk and domestic banks, small size and scale, as well as a weak operating environment.

Asia-Pacific

S&P Global Ratings affirmed the A+ financial strength and long-term issuer credit ratings of Toa Reinsurance Co. Ltd. and its subsidiaries, Toa Reinsurance Co. of America and Toa 21st Century Reinsurance Co. Ltd.

The outlooks are stable based on the rating agency's view that the group will likely continue to have solid competitive and financial positions while remaining weaker than major overseas reinsurers in terms of business diversification and market competitiveness.

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.

Links are current as of publication time; S&P Global Market Intelligence is not responsible if those links are unavailable later.