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Prospect News home > News index > List of issuers C > Headlines for Cathay Century Insurance Co. Ltd. > News item |
S&P changes view on Cathay group units to negative
S&P said it changed the outlook to negative from stable on Cathay Life Insurance Co. Ltd., Cathay Financial Holding Co. Ltd. and Cathay Century Insurance Co. Ltd.
“In our view, growing capital market volatility as a result of the Covid-19 pandemic will heighten capital risk for Cathay Life over the next few quarters. We expect several factors to weigh on the insurer's capitalization. These include potential marked-to-market losses on investments, slower capital accumulation and increasing reinvestment risks under the lower-for longer-interest rate environment,” said S&P in a press release.
S&P affirmed its ratings on the companies.
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