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.
Japan’s three largest non-life insurers profitable despite Faxai, Hagibis
17th October 2019
AM Best analysis suggests that, barring any further major catastrophes in the next five months to fiscal year-end, Japan’s three largest non-life insurance groups are unlikely to report an overall loss despite the recent impacts of typhoon Faxai and Hagibis. In fact, due to effective catastrophe risk management and strong capitalisation, ... Read the full article
Up to 85% of insurtechs could fail, says Starr CEO Greenberg
17th October 2019
Maurice R. Greenberg, Chairman and Chief Executive Officer (CEO) at Starr Insurance Companies, believes that up to 85% of budding insurtech firms are likely to fail. Speaking in an interview with AM Best TV, Greenberg explained that Starr was embracing technological change via investments into new start-ups, but remained realistic about ... Read the full article
Turbulent MENA market both a challenge & opportunity: AM Best
11th October 2019
Increased turbulence across a Middle East and North Africa market characterised by challenging conditions, overcapacity, and a rise in large loss activity is creating challenges for some and opportunities for others, according to a recent report by AM Best. The ratings agency had warned earlier this year that re/insurers operating ... Read the full article
Collateralised reinsurance still dominant despite cat setbacks: AM Best
7th October 2019
The collateralised reinsurance market remains the fastest-growing segment of the insurance-linked securities (ILS) industry despite significant investor losses from 2017 and 2018 catastrophe events, according to a new AM Best report. At year-end 2018, AM Best says market capitalisation of the collateralised reinsurance market was approximately $56 billion out of an ... Read the full article
Life segment still a “source of stability” for reinsurance market: AM Best
1st October 2019
The life reinsurance segment continues to function as a “source of stability” for the overall global reinsurance market, according to AM Best, who looked at the state of the sector in a recent report. The rating agency noted that the life reinsurance market continues to be dominated by just five large ... Read the full article
Surplus lines market doubles premium growth rate in 2018: AM Best
23rd September 2019
The surplus lines market nearly doubled its pace of premium growth in 2018, according to AM Best, with momentum supported by a healthy US economy and new investments in operating platforms. Analysts noted that the specialty insurance segment grew by 11.2% last years, notably up from an increase of just under ... Read the full article
Net income up three-fold for US P&C mutual insurers: AM Best
20th September 2019
Property and casualty (P&C) mutual insurers in the US more than tripled their net income in 2018, owing to lower catastrophe losses and increased investment income, according to AM Best. The rating agency also found that rated mutuals’ net premiums written (NPW) continued to grow at a moderate pace of 4.2% ... Read the full article
Competitive landscape likely to pressure returns for reinsurers: A.M. Best
13th September 2019
Global ratings agency A.M. Best has maintained a stable outlook for the reinsurance sector, but has warned that the competitive nature of the market suggests that returns are likely to fall below the historical mean. After holding a negative outlook for the reinsurance sector for a number of years, stabilised pricing ... Read the full article
AM Best upgrades IGI’s rating to ‘A’ from ‘A-‘
11th September 2019
International financial services rating agency, A.M. Best, has upgraded the financial strength and credit rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to "a" from "a-" of International General Insurance Co Ltd., (IGICL) (Bermuda) and International General Insurance Company (UK) Limited. According to A.M. Best, the ... Read the full article
AM Best stays negative on China’s non-life re/insurance market
11th September 2019
Rating agency AM Best has maintained its negative outlook on the China non-life re/insurance sector, citing persistent pressure on motor business and a dependence on investment returns to support earnings. Analysts also highlighted potential execution risks as the market turns toward a non-motor-focused business model. Adding further pressure is the backdrop of ... Read the full article
AM Best to review ratings for Bahamas re/insurers hit by Dorian
8th September 2019
AM Best is to review the credit ratings of the major property/casualty (P&C) and life/health insurance companies operating in the Bahamas following the devastating impact of Hurricane Dorian in the region. The ratings have been placed under review with developing implications in light of the widespread destruction and limited information that ... Read the full article
CCR Re sustains top line growth in H1, with ratings affirmed by AM Best
4th September 2019
CCR Re has reported that its gross written premiums increased by 16% to €441 million during the first half of 2019, which helped contribute to a stable net income of €17 million. The result builds on the momentum seen in 2018, when the company increased its top line by 17%, with ... Read the full article
Primary segment often a drag for hybrid reinsurers, say industry experts
3rd September 2019
For many reinsurers utilising a hybrid business model, the insurance segment has often been a drag on profitability that has outweighed any benefits it affords, according to a panel of industry experts. Speaking on AM BestTV, Mario Bonaccorso, Chief Financial Officer at PartnerRe, said that his company had made a deliberate ... Read the full article
US stop-loss premiums surge to $18.6bn in 2018, reports AM Best
2nd September 2019
Net premiums earned in the US stop-loss insurance market more than doubled over the last five years, with premiums surging up to $18.6 billion in 2018, according to AM Best. Premiums were up from $9.2 billion in 2013, reflecting a shift toward self-insured health plans since the implementation of the Affordable ... Read the full article
Reinsurer appetite to support insurance sector growth in Bolivia: A.M. Best
2nd September 2019
An expectation of continued, healthy growth, robust solvency ratios and stable appetite from reinsurance companies has seen A.M. Best assign a stable market segment outlook to Bolivia's insurance industry. According to international financial services rating agency, A.M. Best, Bolivia's insurance industry grew by 11% in 2018, on the back of 3.4% ... Read the full article
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