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S&P Credit Research846 word report
published Oct 24, 2008
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S&P Credit Research
| Abstract: | The ratings on Helvetia Schweizerische Versicherungsgesellschaft AG and Helvetia Schweizerische Lebensversicherungsgesellschaft AG, core entities of the Switzerland-based Helvetia Insurance Group (Helvetia), reflect the group's strong operating performance and its strong diversified competitive position. These strengths are partially offset by the group's exposure to the challenging Swiss life insurance market, its moderate cost efficiency, and weakening capitalization. Helvetia has recorded a strong operating performance recently, reflected in a return on equity (ROE) of about 15% on average over the past five years. The group benefits from its focus on low-risk personal line and small and midsize enterprise (SME) business. Furthermore, Helvetia has succeeded in translating its niche position in selected European countries into strong and sustained earnings, contributing about 50% to
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| Brief Excerpt: | RESEARCH Ratings Definitions Summary: Helvetia Insurance Group Publication date: 24-Oct-2008 Primary Credit Analyst: Rico Kutscher, Frankfurt (49) 69-33-999-199; rico_kutscher@standardandpoors.com Secondary Credit Analyst: Hiltrud...
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| Report Type: | Summary
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| Ticker: | HELN@SW
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| Issuer: | Helvetia Schweizerische Versicherungsgesellschaft AG
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| GICS: | Multi-line Insurance (40301030)
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| Sector: | Global Issuers, Insurance
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| Country: | Switzerland
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| Region: | Europe, Middle East, Africa
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
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- Helvetia Insurance Group $400.00
Strong operating performance, supported by a geographically diverse non-life earnings profile and conservative investment strategy. Strong competitive position in Switzerland and focused business model in nondomestic markets. Exposure to the ...
- Summary: Helvetia Insurance Group $175.00
The ratings on Helvetia Schweizerische Versicherungsgesellschaft AG and Helvetia Schweizerische Lebensversicherungsgesellschaft AG, core entities of the Switzerland-based Helvetia Insurance Group (Helvetia), reflect the group's strong operating ...
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Strong operating performance supported by geographically diversified non-life earnings profile Strong competitive position in Switzerland supported by an effective niche strategy in nondomestic markets Weakening capitalization, although still ...
- Summary: Helvetia Insurance Group $175.00
The ratings on Helvetia Schweizerische Versicherungsgesellschaft AG and Helvetia Schweizerische Lebensversicherungsgesellschaft AG, core entities of the Switzerland-based Helvetia Insurance Group (Helvetia), reflect the group's strong operating ...
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Strong operating performance supported by geographically diversified non-life earnings profile Strong capitalization Strong overall competitive position Exposure to the challenging Swiss life insurance market Moderate cost efficiency The ratings ...
- Helvetia Insurance Group $400.00
Strong operating performance supported by geographically diversified non-life earnings profile Strong capitalization Strong overall competitive position Exposure to the challenging Swiss life insurance market Moderate cost efficiency The ratings ...
- Summary: Helvetia Insurance Group $175.00
The ratings on Helvetia Schweizerische Versicherungsgesellschaft AG and Helvetia Schweizerische Lebensversicherungsgesellschaft AG, core entities of the Switzerland-based Helvetia Insurance Group (Helvetia), reflect the group's strong operating ...
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