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Moody's lowers outlook on QBE Insurance Group, units

The SNL Insurance Daily, 2018-02

Copyright SNL Financial LC Feb 06, 2018 ;ISSN: 1090-4204

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  • Title:
    Moody's lowers outlook on QBE Insurance Group, units
  • Author: Gambe, Regina Liezl
  • Subjects: Financial leverage ; Net losses ; Operating ratios ; Profits ; Reinsurance
  • Is Part Of: The SNL Insurance Daily, 2018-02
  • Description: The lowered outlook was driven by QBE's weaker earnings performance in the face of higher-than-expected natural catastrophe losses, combined with goodwill write-downs following downward revisions in the profitability assumptions for the group's North American businesses, the rating agency said. The rating agency could downgrade the group's ratings if its one-year return on capital is 3.0% or less, its operating ratio is 99% or higher, its local solvency ratio falls to 1.4x the minimum Australian regulatory required capital levels on a sustained basis, or its shareholders' equity declines by more than 10% over a 12-month period.
  • Publisher: Charlottesville: SNL Financial LC
  • Language: English
  • Identifier: ISSN: 1090-4204
  • Source: AUTh Library subscriptions: ProQuest Central
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