Standard & Poor's Ratings Services released what it called a "comprehensive enhancement" of its capital models for life, annuity, property-casualty, health insurance and reinsurance companies worldwide aimed at better capturing changes over the course of a year.
In a report put out earlier this month and amended today, the agency said it aims to "capture the present value of expected economic losses experienced over an annual period to a degree of certainty that is commensurate with the rating."
The framework also includes regional risk factors developed to reflect features unique in the local market, the report noted.
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