In addition to the tragic loss of life, there have been negative economic and financial consequences of Covid-19 on many individuals, companies and governments throughout the world. Since the start of the pandemic, the credit profiles of a large number of entities have deteriorated as a result of revenue declines due to lock-downs, declines in financial markets, especially at the start of the pandemic, and low oil prices. The insurance rating criteria have been used by the rating agencies to assess the impact of Covid-19 on insurance companies.
Key learning objectives:
Understand how the rating criteria and issuer rating reports can be used to understand the approach of the rating agencies to Covid-19.
How has Covid-19 affected the insurance companies?
How have rating agencies responded to COVID-19?
What are the most impacted credit rating factors due to Covid-19?