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.
Swiss Re reinsurance support helps elipsLife to ratings affirmation: AM Best
25th February 2020
AM Best has affirmed its credit ratings for Elips Life Insurance Company (elipsLife), which it says have been lifted by continued reinsurance and capital support from the company’s parent, Swiss Re. The rating agency upheld its financial strength rating of A (Excellent) and long-term issuer credit rating of ‘a+’ for elipsLife, ... Read the full article
Coronavirus adds economic pressure for Southeast Asia re/insurers: AM Best
24th February 2020
The claims impact from the coronavirus is likely to be manageable for Southeast Asia-based re/insurers in the short-term, but the resulting economic slowdown could lead to additional pressures, according to analysts at AM Best. The rating agency expects the potential direct impacts of the coronavirus to include medical, personal accident, mortality, ... Read the full article
Thailand non-life sector to face growing profit pressures: AM Best
5th February 2020
Analysts at AM Best expect the non-life re/insurance industry in Thailand to face growing pressures on profitability due to fierce market competition and the need for improved pricing and operational sophistication. The Thailand non-life segment posted THB 232 billion (US $7.5 billion) in direct premium written (DPW) in 2018, making it ... Read the full article
Floridian insurers face challenging June reinsurance renewals: A.M. Best
3rd February 2020
The high levels of stress on primary insurers in the Florida property market is likely to continue, and those with a heavy reliance on reinsurance protection face difficult choices at the upcoming June renewals, according to analysts at A.M. Best. Analysts note an expectation of reinsurance rate rises of between 15% ... Read the full article
AM Best’s post-Brexit arrangements will apply irrespective of EU trade deal
3rd February 2020
A.M. Best has said that measures it has implemented to prepare for a post-Brexit environment will apply irrespective of the UK's ability to reach a trade with the European Union (EU) by December 2020. Like many other global organisations within the UK financial services sector, ratings agency A.M. Best has taken ... Read the full article
Reinsurers face highest risks from coronavirus, says A.M. Best
31st January 2020
Analysts at AM Best believe that reinsurers could face higher levels of risk related to the ongoing Coronavirus outbreak than their primary life & health counterparts. The rating agency noted that reinsurers typically have higher exposures to mortality and morbidity risks, and may have as much as 40% or more of ... Read the full article
UK non-life insurers well positioned despite a challenging 2019: A.M. Best
23rd January 2020
Market conditions for UK non-life insurers remained challenging in 2019 as intense competition, claims inflation, and a volatile property sector pressured underwriting earnings, according to A.M. Best. Throughout 2019, says A.M. Best, competition across the UK non-life insurance sector was intense, driven in part by depressed premium rates in the property ... Read the full article
AM Best stays negative on Brazilian reinsurance
13th January 2020
AM Best has maintained its negative outlook for the Brazilian reinsurance industry, as market volatility and a declining interest rate environment outweigh signs of slow and steady economic growth. Brazil continues to rank as the world’s ninth-largest economy but is considered a difficult country to do business in, particularly for the ... Read the full article
Homeowners segment boosted by lower cat losses in 2019: AM Best
2nd January 2020
Following two years of elevated catastrophe losses, a significant decline in activity during 2019 has helped to boost the homeowners insurance segment, according to AM Best. Analysts noted that the re/insurance industry more broadly has had some respite from catastrophe losses in 2019 despite threats from numerous storms, as well as ... Read the full article
A.M. Best ratings to be used by Swiss insurers after FINMA recognition
30th December 2019
Global financial services ratings agency, A.M. Best, has been recognised by the Swiss Financial Market Authority (FINMA), effective December 13th. The recognition by FINAM is to enable Best's Credit Ratings to be used by Switzerland-based insurers for the determination of capital requirements in accordance with the Swiss Solvency Test. The requirements for ... Read the full article
AM Best holds US life/annuity market outlook at stable
20th December 2019
AM Best has maintained its stable market outlook for the US life/annuity (L/A) industry in 2020, citing strong capitalisation and improved liquidity among carriers, along with a manageable regulatory environment. The rating agency also highlighted companies’ measured approach to increasing investment risk as a positive factor in its stable outlook. US L/A ... Read the full article
Peak Re receives ratings affirmation from AM Best
19th December 2019
AM Best has affirmed its financial strength and credit ratings for Hong Kong-based reinsurer Peak Reinsurance Company Limited (Peak Re), citing robust capitalisation, improved investment risk, and strong liquidity. The rating agency upheld its financial strength rating of A- (Excellent) and its long-term issuer credit rating of ‘a-‘ for both Peak ... Read the full article
Outlook stable for US commercial lines: AM Best
17th December 2019
AM Best has maintained a stable market outlook for US commercial lines insurance in 2020, citing factors such as improved market conditions and solid capitalisation, which have offset short-term profitability challenges. The rating agency noted that commercial lines pricing strengthened in 2019, while pressure on terms and conditions lessened. In addition, the ... Read the full article
US personal lines insurance stable in 2020: AM Best
12th December 2019
AM Best has maintained a stable market outlook on the US personal lines insurance industry for 2020, supported by a decline in catastrophe activity, profitable underwriting, and the sector’s strong capitalisation levels. Following record-breaking catastrophe activity in 2017 and above-average storm losses in 2018, the personal lines industry had some respite ... Read the full article
U.S. life/annuity sector expands holdings of structured notes: A.M. Best
6th December 2019
A recent report by A.M. Best reveals that over a three-year period (2015-2018), the U.S. life/annuity industry grew its holdings in structured notes by one-third, with book adjusted/carrying value hitting $16 billion. According to A.M. Best, the number of structured notes held by life/annuity insurers jumped from 817 to 1,011 during ... Read the full article
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