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24 March 2017
Moody’s Investors Service expects to maintain the ratings of insurers offering lenders’ mortgage insurance (LMI) over the next year.
It says the companies are well capitalised, have low and stable loss ratios and retain strong market positions.
But it notes the portfolios of Genworth, QBE LMI and Westpac LMI are concentrated relative to global peers, which exposes them to volatility from weakness in a particular region or single client.
Genworth and QBE LMI account for about 85% of the local market.
Moody’s VP and Senior Credit Officer Ilya Serov says the companies exceed regulatory capital requirements and have relatively low loss ratios that will offset risk from economic slowdown.
He told insuranceNEWS.com.au the lenders’ mortgage insurers have adopted more conservative underwriting practices since 2008, so the quality of their portfolios will increase.
As a result, loss ratios should remain low and may even improve.
Although Sydney house prices have risen recently, Mr Serov says excessive credit growth or a loosening of lending criteria is not fuelling the rise.
23 March 2017
To partner with business units stakeholders to identify and implement BI initiatives. To support QBE Australia’s Executives formulate and drive operational strategy.
21 March 2017
Reporting to the head of product and partnerships, this role will manage new product development and product management functions, across insurers and product lines. The role will manage insurer relationships, ongoing product management, compliance and contractual obligations.
20 March 2017
Work as part of an experienced established U/W team. High profile role. NSW - Sydney.