About Moody's CareersRegulatory AffairsTerms of UseContact Us GO Research & Ratings Products & Solutions News & Events Log In Register You Browsed By: MARKET SEGMENT Financial Institutions(Remove) GO Refine by: MARKET SEGMENT Banking (50756) Covered Bonds (10496) Finance Companies (10876) Government Related Institutions (1413) Insurance (23582) Real Estate Finance (5167) Securities & Exchanges (2509) REGION North America (42247) Latin America & Caribbean (16949) Europe, Middle East & Africa (42158) Asia Pacific (20019) Global (375) CREDIT QUALITY Investment Grade (40104) Leveraged (14582) LEGAL STRUCTURE Conduit (7269) Holding Company (9633) Operating Company (69308) RESEARCH TYPE Capital Markets Research (1414) Data Reports (19054) Default & Ratings Analytics (420) Economic Research (45) Industry / Sector Research (11328) Issuer Research (69060) Methodology (228) TOPIC 2016 Outlooks (36) Accounting Analysis, Disclosure and Reporting in the Fixed-Income Markets (256) Adjusting to Lower Commodity Prices: A Credit Perspective (31) Africa: Emergence and Transformation (104) Bank Capital (185) Bank Methodology Ratings and Research (199) Bank Regulation and Resolution (582) Build America Bonds (4) China’s Trilemma: Growth, Reform and Stability (159) Corporate Governance Analysis (25) Covenants (85) Credit Implications of Changes in Monetary Policies (43) Show All LANGUAGE Arabic (66) Chinese (Simplified) (52) Chinese (Traditional) (35) Czech (8) English (97961) French (14) German (51) Italian (10) Japanese (281) Korean (95) Portuguese (161) Russian (134) Show All POLITICAL/ECONOMIC GROUPS Emerging Markets (26188) Asia-Pacific Economic Cooperation (APEC) (13439) Association of Southeast Asian Nations (ASEAN) (3294) Commonwealth of Independent States (4185) European Union (30288) Eurozone (20802) Gulf Cooperation Council (2181) Mercosur (5606) Organisation for Economic Co-operation and Development (OECD) (71298) RELATED INFORMATION METHODOLOGY Moody's Updates Bank Rating Methodology Bank Methodology Ratings and Research RESEARCH SERIES Read Moody's 2016 Outlooks - All Sectors 2016 Banking System Outlook Schedule Banking System Outlooks Banking System Profiles NEWSLETTERS EMEA Insurance Monitor Reinsurance Monitor TOPICS Adjusting to Lower Commodity Prices: A Credit Perspective Euro Area – The Road To Sustainable Growth European Banking Union Bank Regulation and Resolution Bank Capital Environmental Risks and Developments KEY CONTACTS Banking Greg Bauer Managing Director - Global Banking Gregory.Bauer@moodys.com Frederic Drevon Managing Director - Global Banking Frederic.Drevon@moodys.com Insurance Simon Harris Managing Director - Global Insurance & Managed Investments Simon.Harris@moodys.com UPCOMING EVENTS 22 Mar 2016 Moody’s 11th Annual GCC Credit Risk Conference 23 Mar 2016 Moody's Housing Conference 23 Mar 2016 Moody’s Inside ASEAN – Spotlight on Malaysia: Lower Energy Prices and Rising Credit Risks (Kuala Lumpur), 23 March 2016 More >> RELATED PRODUCTS Stress Testing U.S. Macro Model® Company Research Service More >> Financial Institutions Credit ratings and analysis on banks and securities firms, insurance, real estate and non-bank finance companies. Highlights 17 Mar 2016 Outlook for Chinese life insurance industry changed to negative from stable The insurers’ overall creditworthiness will likely deteriorate over the next 12-18 months. China's economic slowdown will not affect their business growth, given deepening insurance penetration. However, the key threat to the insurers’ credit profiles will come from lower interest rates, as a result of the central bank’s effort to sustain growth. Insurers will see a significant drop in investment yields, which will impact profitability. We also consider the further build-up of investment risks in recent months... Press Release l Full Report 15 Mar 2016 Weakness in High-Yield Markets Increases Credit Risk of Business Development Companies The capital buffers of Business Development Companies (BDCs) have been eroded by markdowns and realized losses on their assets owing to declining commodity prices and credit weakness in the high-yield market. This increases their risk of default from a breach of the regulatory capital requirement included as a covenant in their bank credit facilities. However, even though asset concentrations and market risk expose BDCs to potential covenant breach and default, their high capitalization relative to traditional finance companies results in low loss-given-default…Press Release l Full Report 8 Mar 2016 Largest UK Banks Able to Meet MREL Requirements Despite a current shortfall that we estimate at £129 billion or 2.9% of adjusted tangible banking assets, the UK's seven largest banks will all likely meet the Bank of England's minimum requirement for own funds and eligible liabilities (MREL) by 2020 (2019 for G-SIBs). Six of the seven banks have a gross shortfall relative to likely MREL requirements, which reduces to a £54 billion net shortfall when considering operating company senior unsecured debt, which would likely be replaced with eligible holding company issuance (or contractually subordinated issuance for large building societies)…Full Report Research Organizations View All Date Document Type Title Issuer/Entity 18 Mar 2016 Credit Opinion - Group OLD MUTUAL WEALTH LIFE ASSURANCE LIMITED Old Mutual Wealth Life Assurance Limited 18 Mar 2016 Credit Opinion - Group OLD MUTUAL CAPITAL FUNDING LP Old Mutual Capital Funding LP 18 Mar 2016 Credit Opinion - Group SWISS RE INTERNATIONAL SE Swiss Re International SE 18 Mar 2016 Credit Opinion - Group WESTPORT INSURANCE CORPORATION Westport Insurance Corporation 18 Mar 2016 Credit Opinion HSBC Holdings plc HSBC Holdings plc 18 Mar 2016 Credit Opinion Swiss Re Corporate Solutions Ltd Swiss Re Corporate Solutions Ltd 18 Mar 2016 Credit Opinion American Tower Corporation: Update to Discussion of Key Credit Factors American Tower Corporation 18 Mar 2016 Credit Opinion Webster Financial Corporation: Semiannual Update Webster Financial Corporation 18 Mar 2016 Credit Opinion BlackRock, Inc.: Credit Opinion BlackRock, Inc. 18 Mar 2016 Credit Opinion General Motors Financial Company, Inc. 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