Skip to content
21 May 2013
Ratings agency Standard & Poor’s (S&P) plans to change the methodology it uses to rate insurance companies.
The proposed changes will affect how S&P rates insurers worldwide across life, health, general insurance and reinsurance, and are being introduced to increase transparency of its criteria.
The changes will apply to long-term issuer credit, financial strength and financial enhancement ratings.
But S&P says it expects the impact of the changes to be “modest”.
“The review may lead to adjustments to some insurance company ratings,” the agency said in a statement. “We expect the significant majority of ratings to remain unchanged or move by no more than one notch.”
S&P says its new approach will feature two key steps: assessing a company’s group credit profile and, for certain subsidiaries, their stand-alone credit profile; and then considering extraordinary government or group support.
The framework will comprise a business risk profile and a financial risk profile.
S&P says the aim is to “clearly and in considerable detail specify the factors and sub-factors of the analysis, and to show how they combine into rating outcomes”.
It says the new criteria will also allow the agency to provide more forward-looking opinions.
Submissions commenting on the proposed changes outlined in the paper are due by September 9.
S&P reviewed its ratings criteria for the global banking sector last year.
15 May 2013
Do you have excellent customer service skills, experience in the administration field and have general insurance knowledge? Then we are looking for you!
8 May 2013
Extremely strong aggregating brand I Warm referrals I Manage existing relationships
6 May 2013
Full-time position I Great team environment I Bring your knowledge and skills to a company who values expertise
29 April 2013
An exciting opportunity exists to join Willis at the Sydney practice as an Account Manager, providing risk management and insurance advice to a broad range of insolvency practitioner clients.
23 April 2013
We are seeking a dynamic individual to lead a team of 170+ employees, delivering exceptional claims services to a range of customers nationally, while maintaining a focus on service standards, efficiency and effectiveness.
23 April 2013
This position offers a pathway smf training for the right person seeking a rewarding career in a specialty field within general insurance broking.