Fitch Downgrades Co-operative Insurance coverage’s Nationwide IFS to ‘BBB(lka)’; Maintains Watch Destructive

Fitch Ratings has been downgraded Co-operative Insurance Company PLC’s (CICPL) National Insurer Financial Strength (IFS) Rating to ‘BBB(lka)’ from ‘A-(lka)’ and maintained the Rating Watch Negative (RWN) following the recent sovereign downgrade and recalibration of the agency’s Sri Lankan national rating scale . The recalibration is to reflect changes in the relative creditworthiness among Sri … Read more

Fitch Downgrades Co-operative Insurance coverage’s Nationwide IFS to ‘BBB(lka)’; Maintains Watch Damaging

Fitch Ratings has been downgraded Co-operative Insurance Company PLC’s (CICPL) National Insurer Financial Strength (IFS) Rating to ‘BBB(lka)’ from ‘A-(lka)’ and maintained the Rating Watch Negative (RWN) following the recent sovereign downgrade and recalibration of the agency’s Sri Lankan national rating scale . The recalibration is to reflect changes in the relative creditworthiness among Sri … Read more

Fitch Downgrades Seven Sri Lankan Insurers’ Nationwide IFS Scores; Maintains Watch Destructive

Fitch Ratings has downgraded the National Insurer Financial Strength (IFS) Ratings of seven Sri Lankan insurers following the recent sovereign downgrade and recalibration of the agency’s Sri Lankan National Rating scale. The seven insurers’ ratings have been maintained on Rating Watch Negative (RWN). The recalibration is to reflect changes in the relative creditworthiness among Sri … Read more

Fitch Assigns ‘A+’ IFS Score to Arch Mortgage Insurance coverage; Outlook secure

Fitch Ratings has assigned an ‘A+’ (Strong) rating to Insurer Financial Strength (IFS). Arch Capital Group Ltd.’s (ACGL) US Mortgage insurance operating subsidiaries: Arch Mortgage Insurance Company (AMIC), United Guaranty Residential Insurance Company (UGRIC) and Arch Mortgage Guarantee Company (AMGC), collectively Arch MI. The Rating Outlook is stable. Arch MI’s ratings reflect the company’s favorable … Read more

Fitch Affirms QBE Insurance coverage Group at ‘A-‘; Affirms Core Subsidiaries’ IFS Scores at ‘A+’/ Steady

Fitch Ratings has been affirmed Australia-based QBE Insurance Group Limited’s Long-Term Issuer Default Rating (IDR) at ‘A-‘ and the Insurer Financial Strength (IFS) Ratings of its core subsidiaries at ‘A+’ (Strong). The outlook on the ratings is stable. A full list of rating actions is at the end of this commentary. The affirmation reflects QBE‘s … Read more

Fitch Revises Outlook on ABCI Insurance coverage to Destructive; Affirms IFS Score at ‘A-‘

Fitch Ratings has revised the Outlook on Hong Kong-based ABCI Insurance Company Limited’s Insurer Financial Strength (IFS) Rating to Negative from Stable. Fitch has an affirmed ABCI’s IFS Rating at ‘A-‘ (Strong). Key Rating Drivers Outlook Revision: The Negative Outlook reflects the increasing volatility in ABCI’s underwriting performance. The company’s combined ratio averaged 123% in … Read more

Fitch Affirms China Taiping Insurance coverage (UK) Co Ltd at IFS ‘A-‘; Outlook Secure

Fitch Ratings has confirmed China Taiping Insurance (UK) Co Ltd Insurer Financial Strength (IFS) Rating at ‘A-‘ (Strong). The Outlook is Stable. The ratings reflect the insurer’s ‘very important’ strategic importance to the owner China Taiping Insurance Group Ltd.weak company profile, volatile financial performance, and strong capitalisation. Key Rating Drivers ‘Very Important’ to Chinese Parent: … Read more

Fitch Upgrades Arch Capital’s IFS Rankings; Debt Rankings Affirmed; Outlook Steady

Fitch Ratings has upgraded the Insurer Financial Strength (IFS) ratings of Arch Capital Group Ltd.’s (ACGL) various primary insurance and reinsurance operating subsidiaries to ‘AA-‘ (Very Strong) from ‘A+’ (Strong). The IFS Rating Outlook is Stable. Fitch has also affirmed ACGL’s Issuer Default Rating (IDR) at ‘A-‘ and the ratings on ACGL’s senior unsecured notes … Read more

Fitch Affirms Monticello Insurance coverage Restricted’s IFS at ‘BBB’; Steady Outlook

Fitch Ratings has confirmed Monticello Insurance Limited’s (MIL) Insurer Financial Strength (IFS) rating at ‘BBB’ with a Stable Outlook. Key Rating Drivers Support Drive Rating: Monticello Insurance Limited’s IFS rating is driven by expected support from its ultimate parent Vale SA (Vale; Long-Term Local Currency Issuer Default Rating BBB/Stable). MIL is wholly owned by Vale … Read more