Fitch launches EMEA model

Fitch Ratings has launched a prism factor-based capital model (Prism FBM), the agency's risk-based model for assessing the capital strength of insurance companies in EMEA.

The model enables Fitch to bring insurers writing business in different regions under varying accounting standards into a single framework and to develop a comparable capital score for use in the rating process.

Fitch said that it has maintained Prism FBM as a simple, Excel spreadsheet-model, following largely positive feedback from the market on the draft model published in October 2013.