Thursday July 16, 2020 02:07

Stcoks Press Release : 29 Apr 2020

SCG Announces Operating Results for Q1/2020, Joins Fight Against COVID-19 Crisis Stcoks—29 Apr 20

SCG announces Q1/2020 Operating Results, showing similar revenue figures to the previous quarter, and unveils to navigate the society, partners and businesses through COVID-19 crisis with a proactive and solid business continuity management plan coupled

Fitch Affirms Thai Reinsurance's IFS Rating at 'A-'; Outlook Stable Stcoks—29 Apr 20

Bangkok--29 Apr--Fitch Ratings
Fitch Ratings has affirmed Thai Reinsurance Public Company Limited's (THRE) Insurer Financial Strength (IFS) Rating at 'A-' (Strong). The Outlook is Stable.
KEY RATING DRIVERS

The rating actions noted above are based on Fitch's current assessment of the impact of the coronavirus pandemic, including its economic impact, under a set of ratings assumptions described below. These assumptions were used by Fitch to develop pro forma financial metrics for THRE that Fitch compared to both ratings guidelines defined in its criteria, and relative to previously established Rating Sensitivities for THRE.

The affirmation takes into account the reinsurer's 'Favourable' business profile compared with all other Thai non-life insurers, 'Strong' capitalisation and 'Good' investment and liquidity risk. THRE's credit profile is balanced by its volatile earning performance, which is affected by legacy unprofitable businesses.

Fitch regards THRE's sound capitalisation as its core rating strength, supported by a robust shareholder equity base relative to its insurance liabilities, but partly offset by pro forma rising coronavirus-related claims and exposure to risky assets due to financial market volatility. We expect THRE's pro forma capitalisation to remain commensurate with its rating. The reinsurer's assumed pro forma Prism Factor-Based Capi

“KIATNAKIN” AND“GENERALI” JOIN FORCES TO PROVIDE THB 1.6 BILLION INSURANCE Stcoks—29 Apr 20

Kiatnakin Bank has joined forces with Generali Thailand in a charity project called KKGEN PROTECT OUR HEROES to provide Covid-19 insurance to medical professionals in five public hospitals across the country. Under the project, up to 8,000 insurance