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.
Despite the confusion, UK-rated insurers are generally ready for Brexit: A.M. Best
19th March 2019
As widespread uncertainty, confusion and an overall lack of clarity continues to underpin the UK's departure from the European Union (EU), international financial services ratings agency, A.M. Best, has said that whatever the outcome, UK-rated insurers are generally well prepared for Brexit. Exactly when the UK is to leave the EU ... Read the full article
A.M. Best stays negative on AXIS Capital despite improvements
18th March 2019
A.M. Best has maintained its negative outlook on the ratings of Bermudian insurance and reinsurance firm AXIS Capital Holdings Limited, although it acknowledged that the company has taken steps to address its concerns during 2018. The rating agency also affirmed AXIS’ Long-Term Issue Credit Rating of ‘a-‘, as well as the ... Read the full article
Canopius US Insurance, Canopius Re ratings placed under review by A.M. Best
18th March 2019
In light of worse-than-expected operating results for 2018 at Canopius AG, A.M. Best has placed under review with negative implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" of Canopius US Insurance, Inc. and Canopius Reinsurance AG. Both Canopius US Insurance and Canopius Reinsurance ... Read the full article
Opportunities for insurers in emerging U.S cannabis market: A.M. Best
14th March 2019
The rapidly emerging U.S cannabis market offers significant opportunities for daring insurance carriers, according to A.M. Best, although conflict between the drug’s legal status at the state versus federal level has so far been a deterrent for many. The rating agency noted that there is demand for coverage from a broad ... Read the full article
A.M. Best revises Donegal Group’s outlook to negative
14th March 2019
A.M. Best has revised the outlooks of Donegal Insurance Group and its members from stable to negative due to a decline in Donegal Group’s operating performance in 2017 and 2018. At the same time, the rating agency affirmed the insurer’s Financial Strength Rating of A (Excellent) and its Long-Term Issuer Credit ... Read the full article
Rating downgrades for U.S P&C re/insurers doubled in 2018, says A.M. Best
7th March 2019
Credit rating downgrades in the U.S property and casualty (P&C) re/insurance segment more than doubled year over year in 2018, according to a new A.M. Best report. The rating agency said factors such as catastrophic weather losses, challenging pricing in competitive lines of business and capital market volatility had reversed a ... Read the full article
Odyssey’s Newline Brexit unit receives PCA rating from A.M. Best
7th March 2019
Newline Europe Versicherung AG, the European insurance hub that Odyssey Group Holdings plans to establish ahead of Brexit, has received a Preliminary Credit Assessment (PCA) from rating agency A.M. Best. The firm assigned a Financial Strength Assessment of A pca (Excellent) and a Long-Term Issuer Credit Assessment of ‘a+’ pca to ... Read the full article
Travelers’ post-Brexit Dublin unit obtains A++ strength rating
5th March 2019
Travelers Insurance Designated Activity Company (TIDAC) (Ireland), the newly established European subsidiary of Travelers Companies, Inc., has obtained a Financial Strength Rating of A++ (Superior) from A.M. Best. Travelers recently obtained a licence from the Central Bank of Ireland to write business from the Dublin-based unit, which will ensure continuity ... Read the full article
Re/insurers with ESG focus to see less long-term volatility: A.M. Best
4th March 2019
Insurance and reinsurance companies with a strong focus on incorporating environmental, social and governance (ESG) practices into their investment and underwriting decision-making processes are more likely to experience less volatility in their results over the longer term, according to A.M. Best. A recent report by the rating agency noted that many ... Read the full article
Middle East & Africa insurers prove resilient to instabilities: A.M. Best
1st March 2019
Insurance and reinsurance companies in the Middle East and Africa generally remain well capitalised and resilient to recent economic and political instabilities, according to analysts at A.M. Best. A report by the rating agency noted that the majority of its rating actions (75%) in the Middle East and Africa during 2018 ... Read the full article
A.M. Best maintains stable US P&C outlook on lower cats, rising premiums
27th February 2019
In light of improved results in 2018 driven by lower catastrophe losses and rising premiums, international financial ratings agency, A.M. Best, is to maintain its stable outlook for the U.S. Property and Casualty (P&C) insurance sector. The ratings agency anticipates that reduced cat losses and continued increases in premiums will drive ... Read the full article
CIS re/insurers struggling to withstand volatile market conditions: A.M. Best
27th February 2019
Insurers and reinsurers in the Commonwealth of Independent States (CIS) are struggling to remain profitable in the face of significant geopolitical instability and regulatory changes, according to a report by A.M. Best. The rating agency noted that, whilst the overall economy for the CIS improved in 2018 compared to prior years, ... Read the full article
Asia execs depart A.M. Best amid management restructure
19th February 2019
A.M. Best has announced that executives Roger Sellek and Jose Ribeiro are to step down from their positions as part of a management restructure to cut costs and strengthen the firm’s business in the Asia-Pacific (AP) region. Sellek is currently Chief Executive Officer of A.M. Best’s EMEA and AP regions and ... Read the full article
Sirius International’s Nasdaq listing reinforces independence from parent, says A.M. Best
19th February 2019
A.M. Best has commented that the credit ratings of Sirius International Insurance Group, Ltd (SIIG) and its main subsidiaries are unchanged, noting that its November 2018 Nasdaq listing reinforces its independence from its ultimate parent, China Minsheng Investment Group Corp., Ltd. (CMIG). The comments from global financial services ratings agency, A.M. Best, ... Read the full article
Casualty erosion prompts A.M. Best to downgrade Allied World rating
18th February 2019
The Long-Term Issuer Credit Ratings (Long Term ICR) of Allied World Assurance Company and its affiliates has been been downgraded by AM Best from a+ to a, while its Financial Strength Rating (FSR) of A (Excellent) has been affirmed. The ratings agency has also downgraded the Long-Term ICR of Allied World’s ... Read the full article
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