Financial Institutions

Highlights

• 22 May 2013
  • New reports discuss Solvency II's impact on solvency ratios, and new liability discount calculations
    One of our two new reports details our belief that solvency ratios will exhibit more volatility under Solvency II, reflecting the move to incorporate market-consistent valuations for insurance liabilities, although this will not change insurers' economic reality. The second report examines two possible outcomes of the ongoing Long-Term Guarantee Assessment (LTGA) impact study by the European Insurance and Occupational Pensions Authority regarding liability discounting for insurers... Solvency II report l LTGA report l Press Release​​
• 21 May 2013
  • MBIA’s ratings upgraded, National Public Finance to Baa1 and MBIA Corp. to B3
    Our upgrades include the Insurance Financial Strength rating of MBIA Corp. to B3 and National Public Finance Guarantee Corp. to Baa1, and the senior debt rating of MBIA Inc., the group’s ultimate holding company, to Ba3. The action reflects the recent settlements with various counterparties, which have improved MBIA’s credit profile. The action also has implications for transactions wrapped by the MBIA group… Press Release l CFG/PIF Affected Credits l SFG Affected Credits
• 13 May 2013
  • Update to Global Macro Outlook 2013-14
    Over the past three months, the global economy has lost momentum as it recovers from last year’s slowdown. Overall, we expect real GDP growth in the G-20 advanced economies of around 1.2% during 2013, a little weaker than previously forecast, followed by 1.9% in 2014. We continue to expect the G-20 emerging economies to outpace advanced G-20 members... Full Report