Tag Archives: Rating

Moody’s: Solvency II regulatory disclosures unlikely to affect European insurers’ credit quality

Creditworthiness of European rated insurers is unlikely to be affected when they will have to reveal, for the first time starting in May 2017, the extent to which their Solvency II ratios are enhanced by various measures, including transitionals and long-term guarantee measures, says Moody’s Investors Service in a report published today. The disclosures are part of insurers’ compliance reporting under the new capital regime.

Moody’s report, “Insurers — Europe: New Solvency II disclosure to provide insight, but unlikely to change our credit view,” is available on www.moodys.com. Moody’s subscribers can access this report via the link provided at the end of this press release. The rating agency’s report is an update to the markets and does not constitute a rating action.

Continued Reading “Moody’s: Solvency II regulatory disclosures unlikely to affect European insurers’ credit quality” at EconoTimes

Moody’s upgrades SCOR’s insurance financial strength rating to Aa3; stable outlook

London, 23 September 2016 — Moody’s Investors Service has today upgraded SCOR SE’s insurance indexfinancial strength rating to Aa3 from A1 and its subordinated debt rating to A2(hyb) from A3(hyb).

The outlook is stable. Moody’s also upgraded the ratings of various SCOR SE subsidiaries.

A list of all ratings affected by this rating action is available at the end of this press release.

SCOR SE (“SCOR“) is one of the largest global reinsurance groups. It reported gross premiums written of EUR13.4 billion in 2015 and shareholders’ equity of EUR6.4 billion as of 31 December 2015.

Continue Reading “Moody’s upgrades SCOR’s insurance financial strength rating to Aa3; stable outlook” at Moody’s

Moody’s assigns a Baa1(hyb) rating to Aviva’s GBP400 million dated Tier 2 debt

London, 07 September 2016 — Moody’s Investors Service has today assigned a Baa1(hyb) rating to the GBP400 million subordinated debt issued by Aviva Plc under its GBP7 billion Euro Medium Term Note (EMTN) 003cb776fd89895dbd6fdfb6ff2f6281programme.

RATINGS RATIONALE

The Baa1(hyb) rating reflects (i) the subordination of the debt, (ii) the optional and mandatory weak coupon deferral mechanisms and (iii) the cumulative nature of deferred coupons, in case of deferral.

Moody’s says that the rating is one notch below the (P)A3 senior debt MTN rating of Aviva Plc, which is in line with Moody’s standard notching practices.

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