Fitch Publishes Updated Insurance Ratings Criteria

CHICAGO--()--Fitch Ratings has published a revision to its methodology for rating insurance companies.

The revisions are published in an update to Fitch's global master insurance criteria, 'Insurance Rating Methodology'.

The more substantive revisions include an enhanced analysis of reserve adequacy, including new and expanded quantitative benchmarks, and a greater focus on how significant growth or declines in premium can negatively affect a rating. The section on reserve adequacy defines how the key elements of reserve profile, growth, experience and adequacy affect an insurer's rating. This revision includes the addition of various new quantitative benchmarks and three new ratios to measure reserve adequacy.

Relatively minor changes include additional details to better clarify certain circumstances under which insurers could be rated above their sovereign rating and a very minor wording update on contingent convertible securities.

No ratings are expected to change as the result of these updates.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research: Insurance Rating Methodology

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=756650

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

Contacts

Fitch Ratings
Donald F. Thorpe, CPA, CFA, +1-312-606-2353
Senior Director
Fitch Ratings, Inc.
70 West Madison Street
Chicago, IL 60603
or
Keith M. Buckley, CFA, +1-312-368-3211
Managing Director
or
Media Relations
Brian Bertsch, New York, +1-212-908-0549
brian.bertsch@fitchratings.com

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Contacts

Fitch Ratings
Donald F. Thorpe, CPA, CFA, +1-312-606-2353
Senior Director
Fitch Ratings, Inc.
70 West Madison Street
Chicago, IL 60603
or
Keith M. Buckley, CFA, +1-312-368-3211
Managing Director
or
Media Relations
Brian Bertsch, New York, +1-212-908-0549
brian.bertsch@fitchratings.com