Reinsurance News
A.M. Best news
News featuring rating agency A.M. Best, including the latest reports, rating actions and analysis from the company, as well as news on A.M. Best’s analysis of the reinsurance sector.
Expand terrorism risk act to cover pandemics, says expert
27th March 2020
Zach Finn, an insurance professor with Butler University, has argued that the federal backstop for terrorism should be expanded to include pandemic coverage. Speaking in an interview with AMBestTV, Finn said that the Terrorism Risk Insurance Act (TRIA) in the US could be expanded retroactively to ease the economic impact caused ... Read the full article
Accelerant’s new Malta insurance subsidiary gets rated
27th March 2020
Accelerant Insurance Limited (Accelerant EU) (Malta), a wholly owned subsidiary of Accelerant Intermediate Holdings (Accelerant) (Cayman Islands), has been assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of "a-" by A.M. Best. Accelerant is the non-operating holding company of the Accelerant group, and A.M. Best ... Read the full article
Japanese fundamentals stable despite share plunge: AM Best
27th March 2020
AM Best believes that the credit fundamentals of most re/insurers have not changed dramatically despite the coronavirus (COVID-19) outbreak and the Russia-Saudi Arabia oil dispute causing share prices to plunge by 30-40%. While these and other factors continue to present major challenges for the sector, analysts believe that most market players ... Read the full article
US health insurers face coronavirus risks on multiple fronts: AM Best
26th March 2020
With coronavirus (COVID-19) spreading rapidly through the US, analysts at AM Best have warned that the outbreak could compound health insurers in the country in a number of ways. According the rating agency, health insurers face major risks not just from claims, but also from economic and operational disruptions. From a claims ... Read the full article
EIOPA info request points to Solvency II changes: AM Best
25th March 2020
A recent information request issued by the European Insurance and Occupational Pensions Authority (EIOPA) suggests a set of potential changes that could be made to enhance Solvency II standards for insurers, according to AM Best. EIOPA began the latest phase of its Solvency II review on March 4th with a request ... Read the full article
AM Best to develop COVID-19 stress tests for re/insurers
18th March 2020
Rating agency AM Best has revealed that it is in the process of developing stress testing that it will use to gauge the impact of the coronavirus (COVID-19) outbreak on its rated re/insurance companies. The tests will aim to measure the effect of the pandemic on re/insurers’ balance sheets, including on ... Read the full article
AM Best turns negative on US life/annuity market amid COVID-19 uncertainty
18th March 2020
Global ratings agency A.M. Best has revised its market segment outlook on the U.S. life/annuity segment to negative from stable, driven by the significant volatility and uncertainty in the financial markets as a result of the ongoing COVID-19 virus. The two main drivers of the revision to negative are the material ... Read the full article
AM Best downgrades Qatar General Insurance & Reinsurance Company
17th March 2020
Global financial services ratings agency A.M. Best has downgraded the credit ratings of Qatar General Insurance & Reinsurance Company QPSC, citing material deterioration in the company's risk-adjusted capitalisation. A.M. Best has downgraded the Financial Strength Rating (FSR) to B++ (Good) from A-(Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to ... Read the full article
2020 Budget is positive for UK insurers, but challenges persist: A.M. Best
13th March 2020
Overall, the recently announced UK 2020 Budget is generally positive for UK insurers but the sector is still faced with challenges, reports financial services ratings agency, A.M. Best. Following the announcement of the 2020 Budget by the UK Chancellor of the Exchequer earlier this week, A.M. Best has offered some thoughts ... Read the full article
Lebanese insurers face mounting uncertainty: AM Best
12th March 2020
Recent civil unrest and a ballooning public debt have increased the level of economic uncertainty in Lebanon, negatively impacting the credit quality of the country’s insurance market, says AM Best. In a new report the ratings agency notes how, in contrast with the wider Middle East and North Africa region, the ... Read the full article
US P&C underwriting income improves to $4.1bn: AM Best
11th March 2020
The U.S. property/casualty (P/C) industry improved its net underwriting income in 2019 to $4.1 billion, according to data from AM Best. The rating agency found that net underwriting income was up $4.9 billion compared with the loss of $800 million reported in 2018. It attributed the increase to a 4.7% growth in ... Read the full article
European re/insurers prepared to manage pandemic risk: AM Best
9th March 2020
Against the backdrop of the coronavirus outbreak, AM Best has said that it considers European insurers and reinsurers to be well positioned to manage their potential exposure to pandemic risk. The rating agency noted that COVID-19 has the potential to challenge European re/insurers on both the asset and liability side of ... Read the full article
AM Best warns of growing claims as coronavirus spreads in US
6th March 2020
Rating agency AM Best has warned of a potential rise in claims for US health insurers due to the growing number of coronavirus cases and deaths being reported across the country. More than 100,000 cases of coronavirus have now been confirmed globally, and an estimated 3,412 people are thought to have ... Read the full article
Sirius International’s ratings downgraded, placed under review by A.M. Best
5th March 2020
International financial services ratings agency A.M. Best has downgraded the credit ratings of Sirius International Insurance Group, Ltd. and its main rated subsidiaries, and, at the same time, has placed these ratings under review with negative implications. Specifically, A.M. Best has downgraded the Financial Strength Ratings (FSR) to A- (Excellent) from ... Read the full article
Argo Group and subsidiaries’ ratings downgraded by A.M. Best
27th February 2020
Global financial services ratings agency A.M. Best has removed from under review with negative implications and downgraded the credit ratings of Argo Group International Holdings, Ltd. and its subsidiaries. Specifically, the ratings agency has removed from under review with negative implications and downgraded the Financial Strength Rating (FSR) to A- (Excellent) ... Read the full article
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