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.
U.S accounting update may cause erratic GAAP results: A.M. Best
16th November 2018
The treatment of unrealised gains and losses under a recent update to the U.S Accounting Standards could lead to erratic results for companies operating under Generally Accepted Accounting Principles (GAAP), according to A.M. Best. Accounting Standards Update 2016-01, issued by the Financial Accounting Standards Board (FASB) in January 2016, requires companies ... Read the full article
A.M. Best downgrades Maiden Holdings’ financial strength rating to B++
16th November 2018
A.M. Best has downgraded the financial strength rating of Maiden Reinsurance, Ltd. and Maiden Reinsurance North America, Inc. from to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to bbb from a-, the ratings agency has announced. At the same time, A.M. Best has downgraded the Long-Term ... Read the full article
California wildfire losses to reach record levels in 2018: A.M. Best
14th November 2018
The Camp and Woolsey Wildfires, which continue to burn through vast areas of the Butte, Ventura and Los Angeles Counties in California, are expected to contribute to what will likely be a record year for insured wildfire losses in the state, according to A.M. Best. The rating agency noted that ... Read the full article
Impact of governmental support for Asian reinsurers varies by market: A.M. Best
30th October 2018
While government initiatives and regulatory support can in general influence the development of insurance and reinsurance markets across Asia, the actual impact varies across markets, according to ratings agency A.M. Best. A report from A.M. Best states that the desire to support social stability, alongside a greater level of fiscal certainty, ... Read the full article
Civil Liability Bill savings will be quickly passed to insureds: A.M. Best
26th October 2018
While measures in the Civil Liability Bill should improve claims experience in the UK, the competitiveness of the motor segment will see savings quickly passed to insureds in the form of premium reductions, according to A.M. Best. Additionally, due to persistent issues with fraud, higher repair costs, and a growing compensation ... Read the full article
Mexico insurers will comfortably absorb Hurricane Willa losses: A.M. Best
25th October 2018
Mexico’s insurance industry is sufficiently well capitalised and reinsured to comfortably absorb the financial impact of Hurricane Willa, which made landfall on Mexico’s Pacific Coast this week as a strong Category 3 storm, according to A.M. Best. Willa brought heavy rainfall, flash floods and landslides to the coastal states of Jalisco, ... Read the full article
UK property rates remain under pressure despite weather losses: A.M. Best
25th October 2018
Conditions remain challenging for property insurers in the UK as strong competition and the availability of relatively cheap reinsurance put pressure on rates in spite of claims inflation, according to A.M. Best. A report by the rating agency found that the 100 largest UK insurers reported a combined underwriting loss in ... Read the full article
Ategrity receives ‘A-‘ rating from A.M. Best, launches P&C offering
27th September 2018
Ategrity Specialty Insurance Company, a specialty property and casualty (P&C) insurer with a focus on the excess and surplus (E&S) lines market, has received an A- (Excellent) VIII financial strength rating from A.M. Best, and will begin offering insurance immediately. Former Scottsdale Insurance President Mike Miller originally announced in April 2018 ... Read the full article
Sub-Saharan Africa reinsurance markets grow despite difficulties: A.M. Best
26th September 2018
Reinsurance markets in Sub-Saharan Africa have experienced material growth over the past decade despite the ongoing challenges of a difficult operating environment, competitive pressures on underwriting activities, and economic and political instability, according to a report by A.M. Best. In recent years, much of the region has faced high inflation, currency ... Read the full article
Almost 90% of re/insurers believe innovation is critical: A.M. Best
25th September 2018
Nearly 90% of re/insurers believe that innovation is critical to the success of their organisation in terms of addressing customers' needs, gaining a competitive advantage, and realising operational efficiencies, according to the results of a new A.M. Best survey. The survey, which questioned more than 450 re/insurers across 48 markets, found ... Read the full article
MENA region still growth prospect despite ongoing challenges: A.M. Best
20th September 2018
The Middle East and North Africa (MENA) region remains an attractive growth prospect for reinsurers due to its underlying market growth and low penetration rates, despite persistent challenging conditions, according to a recent report by A.M. Best. The rating agency noted that a number of recently established reinsurers in the MENA ... Read the full article
Bermuda reinsurance market proves resilient to challenges: A.M. Best
12th September 2018
Bermuda continues to hold its niche position in the reinsurance sector despite a number of recent challenges, including U.S tax reform, a shrinking pool of reinsurance companies due to M&A activity, and, to a lesser extent, the uncertainty caused by Brexit, according to A.M. Best. Bermuda is assessed as a CRT-2 ... Read the full article
Lagging personal lines’ growth a challenge for reinsurers in Southeast Asia & India: A.M. Best
7th September 2018
Ratings agency A.M. Best has highlighted challenges for reinsurers operating in Southeast Asia and India, driven in part by growth in personal lines business which typically requires less reinsurance protection. As is the case in other parts of the world, reinsurance companies operating in Southeast Asia and India are pressured by ... Read the full article
Munich Re moves top in A.M. Best’s 2018 reinsurance rankings
5th September 2018
Munich Re has recovered the No. 1 position from Swiss Re in A.M. Best’s annual ranking of the Top 50 Global Reinsurance Groups, which also saw Warren Buffett’s Berkshire Hathaway climb two places to No. 3, pushing Hannover Rück SE and SCOR SE to the four and five spots respectively. Read the full article
Reinsurance market continues to “skip along the bottom”, says A.M. Best
4th September 2018
The reinsurance sector continues to "skip along the bottom of the market" with no signs that rates are going to meaningfully improve anytime soon, according to ratings agency A.M. Best. A.M. Best's recent report on the global reinsurance landscape states that optimism over a turn in the market following the large ... Read the full article
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