trending Market Intelligence /marketintelligence/en/news-insights/trending/zg_o9ra9rspraplryo-_6q2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Insurance ratings actions: A.M. Best assigns ratings to Mortgage Guaranty

Infrastructure Issues: Tools to Dig Deep on Potential Risks

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


Insurance ratings actions: A.M. Best assigns ratings to Mortgage Guaranty

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 assigned the financial strength rating of A- (Excellent) and the long-term issuer credit rating of "a-" to Wisconsin-domiciled Mortgage Guaranty Insurance Corp. and subsidiaries MGIC Indemnity Corp., MGIC Assurance Corp. and MGIC Reinsurance Corp. of Wisconsin.

The outlooks assigned to these ratings are stable.

The ratings reflect the group's balance sheet, which A.M. Best categorizes as strongest, its adequate operating performance, limited business profile and appropriate enterprise risk management.

_____________________

A.M. Best assigned a financial strength rating of A (Excellent) and a long-term issuer credit rating of "a" to Bermuda-based Essent Group Ltd.'s operating subsidiaries Essent Guaranty Inc., Essent Guaranty of PA Inc. and Essent Reinsurance Ltd.

The outlooks assigned to these ratings are stable.

The ratings reflect the companies' balance sheet, which A.M. Best categorizes as strongest, their strong operating performance, limited business profiles and appropriate enterprise risk management.

Europe

S&P Global Ratings assigned its A- long-term insurer financial strength rating to Austria-based Credendo Single Risk Insurance AG with a stable outlook.

The rating reflects the agency's view of the company's strategically important group status to Belgium-based credit insurance parent, Credendo ECA, as a specialist single-risk insurer within the Credendo group. It also reflects Credendo's sound capitalization and reinsurance protection.

S&P expects Credendo to remain strategically important to Credendo ECA and defend its stand-alone credit profile by generating profitable growth, turning around its underwriting performance and maintaining its sound capitalization.

_____________________

S&P withdrew its A+ long-term issuer credit and financial strength ratings and A-1+ short-term issuer credit ratings on U.K.-based Standard Life Assurance Ltd. due to lack of sufficient information to maintain the ratings.

The ratings were on CreditWatch with negative implications at the time of the withdrawal.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings. The original S&P Global Ratings documents referred to in this feature can be found here and here.

Links are current as of publication time, and we are not responsible if those links are unavailable later.