Fortis Insurance Co (Asia)'s 'A3' IFSR outlook raised to positive - Moody's |
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Published
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Thu, 29 Nov 2007 07:10
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MUMBAI (Thomson Financial) - Moody's Investors Service has changed its outlook on Fortis Insurance Co (Asia) Ltd's (FICA) 'A3' insurance financial strength to positive from stable and affirmed the rating.The outlook change reflects Moody's expectation that FICA's business and financial profile will improve over the medium-term due to changes made to its operations, following its ownership by Fortis Insurance International NV and involvement of its ultimate parent Fortis Group.Meanwhile, the affirmation of the 'A3' rating reflects FICA's good underlying financial strength. FICA shows sound capitalisation and has improved operations in terms of profitability and agent productivity over the past few years, Moody's said.TFN.newsdesk@thomson.comypv/ranCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Allianz SpA's 'Aa3' IFSR affirmed; outlook stable - Moody's 