{"id":15462,"date":"2012-10-10T17:44:40","date_gmt":"2012-10-10T15:44:40","guid":{"rendered":"http:\/\/www.myza.co.za\/10\/text-sp-rates-south-african-insurer-santam-a-outlook-stable\/"},"modified":"2012-10-10T17:44:40","modified_gmt":"2012-10-10T15:44:40","slug":"text-sp-rates-south-african-insurer-santam-a-outlook-stable","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/text-sp-rates-south-african-insurer-santam-a-outlook-stable\/","title":{"rendered":"TEXT-S&amp;P rates South African insurer Santam &#8216;A-&#8216;; outlook stable"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>(The following statement was released by the rating agency)<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>Oct 10 &#8211;<\/p>\n<p><span><\/span><\/p>\n<p>Overview<\/p>\n<p><span><\/span><\/p>\n<p>&#8212; We are assigning our &#8216;A-&#8216; long-term counterparty credit and insurer<br \/>\nfinancial strength ratings and &#8216;zaAA&#8217; South Africa national-scale rating to<br \/>\nSouth Africa-based non-life insurer Santam Ltd. The outlook is stable.<\/p>\n<p><span><\/span><\/p>\n<p>&#8212; The ratings reflect Santam&#8217;s strong competitive position, strong and<br \/>\nstable operating performance, and strong financial flexibility.<\/p>\n<p><span><\/span><\/p>\n<p>&#8212; Santam&#8217;s capitalization partially offsets these strengths; it is only<br \/>\n&#8220;good,&#8221; owing to material intangibles and equity risk, and the economic and<br \/>\nindustry risks inherent in operating in South Africa, including a concentrated<br \/>\nexposure to the banking sector.<\/p>\n<p><span><\/span><\/p>\n<p>&#8212; The stable outlook reflects our expectation that Santam will continue<br \/>\nto develop its competitive position through diversification, produce a<br \/>\ncombined ratio of 92%-96% (in line with its long-term average of 94%) and<br \/>\nmanage risk exposures in line with capital resources to support the current<br \/>\n&#8220;good&#8221; assessment.<\/p>\n<p><span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>Rating Action<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(The following statement was released by the rating agency) Oct 10 &#8211; Overview &#8212; We are assigning our &#8216;A-&#8216; long-term counterparty credit and insurer financial strength ratings and &#8216;zaAA&#8217; South Africa national-scale rating to South Africa-based non-life insurer Santam Ltd. The outlook is stable. &#8212; The ratings reflect Santam&#8217;s strong competitive position, strong and stable [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-15462","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15462","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=15462"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15462\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15462"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15462"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15462"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}