Fitch upgrades Q-IFS Ratings-U.S. insurer damages.
CHICAGO - Fitch Ratings today announced its updates Quantitative Insurer Financial Strength (Q-IFS) 555 ratings for USA claims of insurance companies. Meanwhile, Fitch has the new Q-IFS-80 Ratings on the USA insurers.
Of the 555 updated ratings, there are 69 upgrades, 25 demotions and 381 claims. Fitch notes that the number of updates on Down degree reflects improvements in credit basis, with those companies evaluated during fiscal 2006.
Including 555-Q-IFS Ratings, Fitch currently maintains coverage of 958 U.S. property / Accident Insurance companies that share about 74% of total industry net premiums.
In addition, Fitch 23 revocation of the existing Q-IFS ratings, as these damage-insurance companies Fitch no longer meet the criteria entitled to a Q-IFS-Rating.
Q-IFS-Ratings are solely on a statistical model using the last five years, the financial information law. The model that “the logic of notation” that mirror many aspects of the quantitative analysis, which is used, assign ratings traditional IFS. In case of simultaneous recognition of borders within the strict framework of using a quantitative approach credit rating, Fitch is of the opinion that the notation IFS make adequate representation of the company stand-alone financial strength and costs of exploitation.
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