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.
Reinsurance partnerships a “cornerstone” for Caribbean insurers: A.M. Best
21st June 2019
Reinsurance partnerships are the “cornerstone” that provides the capacity for insurers to profitably write business in the Caribbean, according to A.M. Best, and have allowed them to weather two years of heavy catastrophe losses with little to no major operational impact. Analysts noted that these longstanding partnerships have proven to be ... Read the full article
AM Best revises Doha Insurance outlook to negative, reinsurance initiatives a factor
21st June 2019
A.M. Best has revised the outlooks from stable to negative of Doha Insurance Group Q.P.S.C., reflecting the continued deterioration of its underwriting performance, combined with concerns around its underwriting risk management practices. At the same time, A.M. Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer ... Read the full article
Reinsurers’ profits at historic low as return on equity drops: analysts
19th June 2019
The reinsurance industry is experiencing a period of historic unprofitability as the gap between cost of capital and return on equity remains at the highest level its ever been, according to analysts at A.M. Best. In a new report, the rating agency noted that reinsurers tend to have a low cost ... Read the full article
U.S life/annuity market posts 25% drop in pre-tax earnings for 2018: A.M. Best
19th June 2019
The majority of U.S life/annuity companies posted favourable operating results in 2018, according to A.M. Best, but statutory pre-tax operating gains declined by 25%, the largest drop in five years. The rating agency observed that pre-tax operating earnings for the sector declined from $63.7 billion in 2017 to $47.8 billion in ... Read the full article
A.M. Best turns negative on Greenlight Re due to underwriting concerns
3rd June 2019
Hedge fund style reinsurer Greenlight Re has had its outlook revised from stable to negative by A.M. Best, due to concerns about its track record of poor underwriting performances. The revised outlooks apply to Greenlight Re, as well as its subsidiaries, Greenlight Reinsurance, Ltd. (Cayman Islands) and Greenlight Reinsurance Ireland, Designated ... Read the full article
A.M. Best upgrades credit ratings of IRB Brasil Re
31st May 2019
Rating agency A.M. Best has upgraded the financial strength rating of Brazilian reinsurance firm IRB Brasil Resseguros S.A. to A (Excellent) from A- (Excellent), due to the company’s improved financial strength. The reinsurer’s long-term issuer credit rating was also upgraded from “a-“ to “a”, and the outlook of its credit ratings ... Read the full article
A.M. Best expects minimal insured losses from Peru earthquake
30th May 2019
The recent magnitude 8.0 earthquake that struck Peru and parts of Ecuador last week is expected to have only a minimal impact on the domestic insurance markets in the region, according to A.M. Best. In Peru, the event reportedly caused damage to housing infrastructure and schools, as well as disruptions in ... Read the full article
A.M. Best stays negative on Indian non-life market
29th May 2019
A.M. Best has maintained its negative market segment outlook on India’s non-life insurance market, citing a continued reliance on realised and unrealised investments to offset technical losses, short-term regulatory disruption, and underperforming core business lines. The rating agency acknowledged that the non-life insurance industry has been one of the main beneficiaries ... Read the full article
US P&C sector’s underwriting income up 24% in Q1: A.M. Best
24th May 2019
The U.S. property and casualty (P&C) sector's net underwriting income for the opening three months of 2019 improved by 24% from the same period in 2018, as premium growth, lower underwriting expenses and reduced policyholder dividends offset an increase in losses and loss adjustment expenses (LAE). This is according to international ... Read the full article
Additional reinsurance costs hit Japanese non-life players in 2018: A.M. Best
22nd May 2019
Extra reinsurance costs were one of the main drivers of a slight deterioration in the underwriting results of Japanese non-life insurers in 2018 as companies responded to significant losses from catastrophe events, according to international financial services rating agency, A.M. Best. Japan was hit by a series of significant catastrophe events ... Read the full article
Mexico showing strong re/insurance growth despite regulatory concerns: A.M. Best
17th May 2019
A.M. Best believes that Mexico continues to offer significant growth opportunities for re/insurers and has even benefited from the introduction of the Solvency II framework, which some anticipated would be a limiting factor for the market. The rating agency noted that premium growth has been inconsistent since the regulatory system was ... Read the full article
A.M. Best revises Third Point Re outlook to negative
17th May 2019
International financial services ratings agency, A.M. Best has revised the rating outlooks to negative from stable of Third Point Reinsurance Ltd. and its subsidiaries, in light of the firm's inability to produce an underwriting profit. At the same time, A.M. Best has affirmed the Financial Strength Rating of A- (Excellent) and ... Read the full article
A.M. Best warns P&C insurers of rating downgrades ahead of TRIPRA expiration
14th May 2019
Rating agency A.M. Best has warned U.S property and casualty (P&C) insurers with exposure to terrorism risk that they could face potential rating downgrades if the Terrorism Risk Insurance Program Reathorization Act (TRIPRA) of 2015 is left to expire in 2020. The Act provides a federal backstop to insurers to help ... Read the full article
Global life reinsurers poised for growth as U.S market slows: A.M. Best
25th April 2019
Growth in the U.S life reinsurance market has been challenged due to limited growth by direct writers, but opportunities have taken shape in emerging markets, particularly in the Asia-Pacific region, according to A.M. Best. Five carriers account for the vast majority of assumed business and continue to dominate the U.S life ... Read the full article
Arig investigation uncovers “glaring deficiencies” in governance
24th April 2019
An investigation into Arab Insurance Group (Arig), a Bahrain-domiciled treaty and facultative reinsurance provider, by the Central Bank of Bahrain has uncovered “glaring deficiencies” in the company’s governance framework. The regulator conducted an onsite examination of the reinsurer after A.M. Best downgraded and withdrew its credit ratings for Arig last month ... Read the full article
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