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.
US P&C industry falls to $24.3bn underwriting loss through 9M: AM Best
2nd December 2022
The US P&C industry recorded a $24.3 billion net underwriting loss in the first nine months of 2022, down $17.9 billion from the prior year period, according to data from AM Best. The rating agency noted that 8.4% growth in net earned premiums and a 22.3% decline in policyholder dividends during ... Read the full article
Interest rate impact on re/insurers depends on accounting methods: AM Best
9th November 2022
Substantial increases in interest rates globally have significantly affected the balance sheets of some insurers this year, though the impact will depend on the accounting methods employed, suggests AM Best. The rating agency notes that insurers in countries using a market value approach saw material declines in available capital from unrealised ... Read the full article
P&C re/insurers shifting to riskier assets as yields decline: AM Best
4th November 2022
Given the declining investment yields of the past decade, US property and casualty (P&C) reinsurers’ investment allocations during this period have shifted to more riskier assets such as lower-rated and private placement bonds, according to AM Best. AM Best notes that bonds remain the foundation of P&C insurers’ investment portfolios, but ... Read the full article
Amwins gets exceptional delegated authority scores from AM Best
4th October 2022
AM Best has assigned its highest Performance Assessment of PA-1 (Exceptional) to a group of seven delegated underwriting authority enterprises (DUAEs) of the Amwins Group, with a stable outlook. Launched this year, AM Best's performance assessment for DUAEs looks at underwriting capabilities, governance and internal controls, financial condition, organizational talent and ... Read the full article
AM Best flags uncertainties for Sub-Saharan reinsurance market
3rd October 2022
Analysts at AM Best have flagged a host of uncertainties that may impede the near-term prospects of the reinsurance market in Sub-Saharan Africa (SSA), despite its significant expansion over the past decade. The rating agency notes that gross written premium in the SSA reinsurance market has grown at a 10-year compound ... Read the full article
Underwriting performance still pressured across South Asia: AM Best
30th September 2022
AM Best notes that reinsurance companies in South and Southeast Asia (S/SEA) posted an improved combined ratio in 2021, although underwriting performance remains pressured with a continued reliance on investments to achieve bottom-line profitability. According to the rating agency, S/SEA reinsurers recorded an overall combined ratio of 108% in 2021, a ... Read the full article
Three newco cyber start-ups in rating pipeline: AM Best’s Holzberger
11th September 2022
Stefan Holzberger, Chief Rating Officer at AM Best, has revealed that his company currently has three newco dedicated cyber insurers in the pipeline for initial rating. The rating agency executive disclosed the imminent entrance of three new cyber entities to the market during an AM Best Reinsurance Market Briefing panel held ... Read the full article
L/A & health reinsurers remain well capitalised despite elevated mortality: AM Best
11th September 2022
According to AM Best, companies within the global life/annuity and health reinsurance segments are adopting different approaches as they react to elevated mortality trends; however, these reinsurers have remained well capitalized throughout the pandemic. The report suggests life and health reinsurers’ earnings in 2021 suffered from adverse mortality trends, though the ... Read the full article
Inflation & Russia flagged as major headwinds for Lloyd’s
1st September 2022
Analysts at AM Best have flagged a number of significant headwinds for the Lloyd’s insurance and reinsurance market, including high inflation and the conflict between Russia and Ukraine. The rating agency acknowledged that considerable remedial and modernisation work has been carried out within the market, along with strong underlying market conditions, ... Read the full article
Top 10 reinsurer rankings see shake-up through 2021
23rd August 2022
The rankings for the world’s largest reinsurance companies saw a lot of movement through 2021, new data from AM Best shows, with particularly significant shake-ups seen within the top 10 list. Munich Re maintained its top spot as largest reinsurer last year, with gross life & non-life reinsurance premiums written ... Read the full article
Dedicated reinsurance capital may slip back this year: AM Best
22nd August 2022
According to a new AM Best report, the recent spike in dedicated reinsurance capital growth may prove short-lived, given expectations for depressed investment markets, continued geopolitical turmoil and a potential decline in global gross domestic product. Dedicated reinsurance capacity in 2021 increased to $568 billion, driven by an increase of nearly ... Read the full article
Reinsurance capital re-deployed to casualty & specialty lines: AM Best
19th August 2022
Analysis by AM Best suggests that globally, reinsurers are re-deploying their capital away from property classes and into lines such as casualty and specialty primary lines, in order to seek better returns. The rating agency notes a consensus that positive price movements are being led by primary markets, and in particular ... Read the full article
AM Best puts Fidelis under negative review after MGU launch
1st August 2022
AM Best has placed the financial strength ratings of Fidelis and its subsidiaries under review with negative implications, following last week’s announcement that Fidelis plans to set up a new managing general underwriter. Provided regulatory approval is received, Fidelis MGU will be separated from the existing Fidelis companies and will ... Read the full article
AM Best removes R&Q companies from being under review with negative implications
21st July 2022
AM Best has removed Accredited Surety and Casualty company, Accredited Specialty Insurance Company, and Accredited insurance (Europe) from being under review with negative implications. Concurrently, the company said it had affirmed Financial Strength Ratings for the firms of A- (Excellent) and Long-Term Issuer Credit Ratings of a- (Excellent). It has also ... Read the full article
Kazakhstan insurance resilient as economy recovers: AM Best
30th June 2022
The insurance market in Kazakhstan showed a high degree of resilience to the challenging economic conditions brought on by the COVID-19 pandemic, according to analysts at AM Best. In a new report, the rating agency also said that it expects the country’s industry to withstand economic uncertainty driven by the military ... Read the full article
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