Research Update: Cyprus-Based Insurer KLPP Upgraded To 'BB-' On Improved Management And Stronger Financial Profile; Outlook Stable - S&P Global Ratings’ Credit Research

Research Update: Cyprus-Based Insurer KLPP Upgraded To 'BB-' On Improved Management And Stronger Financial Profile; Outlook Stable

Research Update: Cyprus-Based Insurer KLPP Upgraded To 'BB-' On Improved Management And Stronger Financial Profile; Outlook Stable - S&P Global Ratings’ Credit Research
Research Update: Cyprus-Based Insurer KLPP Upgraded To 'BB-' On Improved Management And Stronger Financial Profile; Outlook Stable
Published Sep 15, 2017
6 pages (2009 words) — Published Sep 15, 2017
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

In our view, KLPP now has a clearer strategic focus. It has increased its complement of technical and administrative staff to support its goals. Its financial profile has also strengthened as a result of a more conservative investment appetite and improved capital adequacy due to retained earnings. We are raising our counterparty credit and financial strength ratings on KLPP to 'BB-' from 'B+'. The stable outlook reflects our expectation that KLPP's stable management team will execute its strategic plan to gradually grow premiums in its chosen lines of business and geographies, and will realign its investment portfolio. On Sept. 15, 2017, S&P Global Ratings raised its counterparty credit and financial strength ratings on Cyprus-based KLPP Insurance and Reinsurance Co. Ltd.

  
Brief Excerpt:

...In our view, KLPP now has a clearer strategic focus. It has increased its complement of technical and administrative staff to support its goals....

  
Report Type:

Research Update

Issuer
KLPP Insurance and Reinsurance Co. Ltd.
GICS
Reinsurance (40301050)
Sector
Global Issuers
Country
Cyprus
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Cyprus-Based Insurer KLPP Upgraded To 'BB-' On Improved Management And Stronger Financial Profile; Outlook Stable" Sep 15, 2017. Alacra Store. May 21, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Cyprus-Based-Insurer-KLPP-Upgraded-To-BB-On-Improved-Management-And-Stronger-Financial-Profile-Outlook-Stable-1915562>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Cyprus-Based Insurer KLPP Upgraded To 'BB-' On Improved Management And Stronger Financial Profile; Outlook Stable Sep 15, 2017. New York, NY: Alacra Store. Retrieved May 21, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Cyprus-Based-Insurer-KLPP-Upgraded-To-BB-On-Improved-Management-And-Stronger-Financial-Profile-Outlook-Stable-1915562>
  
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