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.
A.M. Best report highlights growing debt among U.S. health insurers
29th November 2019
The total debt obligations among U.S. publicly traded health insurers have increased significantly over the last ten years to $115.5 billion in 2018, driven by the low interest rate environment supporting companies' diversification and acquisition efforts, says A.M. Best in a recent report. From total debt obligations of $24.8 billion in ... Read the full article
US life/annuity market makes use of low financing costs & interest rates
28th November 2019
Global financial services ratings agency, A.M. Best, has found that the long-term debt obligations among publicly traded U.S. life/annuity insurers declined by 14% between 2010 and 2018, to $89.3 billion. According to A.M. Best, the majority of the 19 companies followed for this report took advantage of lower financing costs in ... Read the full article
US P&C sector’s underwriting income up 13% in 2019: A.M. Best
22nd November 2019
The U.S. property and casualty (P&C) sector's net underwriting income for the first nine months of 2019 increased 13% on the same period last year, while the industry's combined ratio weakened slightly from the prior year period, according to analysis by A.M. Best. The nine-month data is derived from companies' nine-month ... Read the full article
A.M. Best turns negative on Sirius International
22nd November 2019
Global financial services ratings agency, A.M. Best, has revised its outlooks to negative from stable for Sirius International Insurance Group, Ltd. and its main rated subsidiaries, citing the deterioration of the firm's operating performance metrics since 2017. Specifically, A.M. Best has revised the outlooks to negative and affirmed the Financial Strength ... Read the full article
Reinsurance market likely to remain stable into 2020: AM Best’s Holzberger
20th November 2019
New business opportunities and alignment with third-party capital are among a number of tailwinds that are expected to help the reinsurance sector maintain its stable outlook into next year, according to Stefan Holzberger, Senior Managing Director and Chief Rating Officer at AM Best. Speaking as part of AM Best’s recent ‘Insurance ... Read the full article
Homeowners sector increasingly targeting insurtech efficiencies: AM Best
19th November 2019
Companies in the US homeowners market are increasingly relying on insurtech to boost efficiency and agility in the face of challenging market dynamics, according to analysts at AM Best. Analysts observed that effective use of technology in this sector has helped to lower transaction costs and expand access to customers. The cost ... Read the full article
Asbestos losses showing signs of subsiding: AM Best
15th November 2019
Asbestos & environmental (A&E) loss reserves have declined steadily, but not significantly, over the past decade as loss payments have outpaced incurred losses, according to a new AM Best report. The rating agency reported that asbestos reserves declined 3.7% to $18.4 billion from 2017, while environmental reserves rose a slight 2.6% ... Read the full article
U.S. homeowners insurers improve CR in 2018 on lower cats: A.M. Best
5th November 2019
Although still above-average, a reduction in the level of catastrophe losses during 2018 was the main driver of an improved combined ratio reported by U.S. homeowners insurers in the year, according to A.M. Best. U.S. homeowners carriers posted a combined ratio of 103.7% in 2018, which, is an improvement of 3.1% ... Read the full article
A.M. Best maintains stable outlook for Japan’s non-life sector despite headwinds
1st November 2019
Japanese non-life insurers continue to produce underwriting profits despite the impacts of significant catastrophe events, and while A.M. Best maintains a stable outlook on the sector, major headwinds are on the horizon. Highlighted most recently by the devastating impacts of typhoons Faxai and Hagibis this year and typhoons Jebi and Trami ... Read the full article
California wildfire outbreaks underline ‘new normal’ challenge: AM Best
30th October 2019
With several intense wildfire outbreaks already recorded in California this year, and much of the season still to go, AM Best has underlined the challenge that re/insurers will face in adapting to a potential ‘new normal’ trend of heightened wildfire activity. Although wildfire activity in 2019 thus far has been quieter ... Read the full article
Sub-Saharan Africa provides reinsurers with a unique opportunity: A.M. Best
29th October 2019
The reinsurance landscape across Sub-Saharan Africa is unique, and while economic and political risks continue to pose challenges for market players, the region is still a long-term opportunity for reinsurers, according to A.M. Best. International financial services ratings agency, A.M. Best, has said that insurance markets across sub-Saharan Africa provides reinsurers ... Read the full article
2019 cats to dent reinsurers’ earnings, accelerate rates: A.M. Best
22nd October 2019
Global financial services ratings agency, A.M. Best, expects an acceleration in rate increases for the key January 1st and April 1st, 2020 reinsurance renewals, but warns of another lacklustre performance for the reinsurance sector in 2019 after a series of major catastrophe events. After consecutive heavy loss years, insurers, reinsurers and ... Read the full article
S&P drops Argo outlook to “stable” on SEC subpoena
21st October 2019
S&P Global Ratings has dropped its outlook for Argo Group US and its subsidiaries from positive to stable, after the specialty re/insurer was issued with a subpoena by The US Securities and Exchange Commission. After news of the subpoena broke, Argo released a statement explaining that it was conducting an ... Read the full article
AM Best turns positive on Canopius ratings
21st October 2019
Rating agency AM Best has removed the under review with negative implications status from Canopius US Insurance, Inc. and Canopius Reinsurance AG. At the same time AM Best has affirmed the Financial Strength Ratings of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” of both Canopius Group subsidiaries, and ... Read the full article
Heightened reinsurance use amid potential TRIPRA expiration: A.M. Best
18th October 2019
In the event that the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA) is not renewed at the end of next year, insurers continue to take appropriate risk management measures, including the increased purchase of reinsurance protection, according to A.M. Best. Signed by President Obama in January 2015, TRIPRA extended the expiration ... Read the full article
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