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.
Caribbean insurers’ comprehensive reinsurance use protects surplus: A.M. Best
24th July 2018
Despite the devastating and costly impacts of 2017 catastrophe events on the Caribbean, which includes hurricanes Irma and Maria, the region's insurance sector saw its surplus decline by just 4% as a result of its comprehensive reinsurance utilisation, according to A.M. Best. Speaking with AMBestTV, Ricardo Longchallon, a Senior Financial Analyst ... Read the full article
Steady growth in cyber market but fresh opportunities remain: A.M. Best
6th July 2018
Although the cyber insurance and reinsurance market has seen steady growth over the last year, there remain significant untapped opportunities, particularly in regard to cover for SMEs, according to rating agency A.M. Best. The agency’s Market Segment Report observed that cyber risk awareness benefitted from a number of high-profile cyber events ... Read the full article
Challenges remain but multi-peril crop re/insurance business still favourable: A.M. Best
6th July 2018
Despite notable sector headwinds, ratings agency A.M. Best still views both the primary and reinsurance multi-peril crop insurance business as favourable, highlighting the "marriage" between carriers and agricultural focused technology firms as an efficiency driver. In recent times, the U.S. government-subsidised multi-peril crop insurance industry has been under pressure, driven by ... Read the full article
Favourable 2017 reinsurance market insulated homeowners insurers: A.M. Best
29th June 2018
Homeowners insurers were able to absorb 2017’s devastating catastrophe losses with relative ease due to the favourable reinsurance environment that has prevailed in recent years, according to A.M. Best. The rating agency found that the reported combined ratio for homeowners insurers in 2017 was 107.1, which was only marginally higher than ... Read the full article
Precarious Barbados economy to have little impact on rated re/insurers: A.M. Best
20th June 2018
A recent report by A.M Best indicates Barbados-domiciled re/insurers’ are to remain largely unaffected, following announcements made by Prime Minister Mia Mottley that highlighted the precariousness of the country’s economy. Mottley stated on June 4 that the country was to suspend “all payments due on debts to our external commercial creditors” ... Read the full article
Caribbean insurers well-capitalised despite 2017 hurricane losses, says A.M. Best
19th June 2018
A new report from A.M. Best points to the responsiveness of reinsurers as a driving factor behind Caribbean property and casualty (P/C) insurers’ ability to withstand the record-setting impact of 2017’s hurricane season, enabling them to quickly resolve and settle the high volume of claims. Despite the magnitude of catastrophe losses, ... Read the full article
PartnerRe rating outlook positive: A.M. Best
18th June 2018
A.M. Best has announced a readjustment of PartnerRe’s rating outlook from stable to positive, placing the Financial Strength Rating (FSR) at A and the Long-Term Issuer Credit Ratings (Long-Term ICR) at A+ for the majority of the firm’s subsidiaries. Additionally, Best has increased the PartnerRe American and Canadian Life Reinsurance Companies’ ... Read the full article
High rate of M&A to continue fuelling insurance deals: A.M. Best
8th June 2018
A.M. Best has found that a prevailing reliance on Mergers and Acquisitions (M&A) to fulfil a perceived need for increased scale and relevance - particularly in the reinsurance sector, which remains under pressure from alternative capital - as well as meeting difficult target returns in an intensely competitive environment, is ... Read the full article
Cyber market faces pricing challenges despite steady growth, reports A.M. Best
30th May 2018
A.M. Best has reported that the cyber re/insurance market currently faces a challenging pricing environment, although the sector continues to exhibit steady growth and capacity generally remains plentiful. In most cases, A.M. Best found that re/insurers seem willing and able to offer capacity but reluctant to have cyber constitute a significant ... Read the full article
Re/insurers confident of compliance as GDPR approaches: A.M. Best
25th May 2018
European re/insurers are confident about their ability to comply with the new rules of the European Union’s (EU’s) General Data Protection Regulation (GDPR), which come into effect on May 25th, 2018, according to a report by A.M. Best. The rating agency polled re/insurers on their level of preparedness at April 2018, ... Read the full article
European re/insurers increasingly relying on equity investments: A.M. Best
25th May 2018
European re/insurers are increasingly relying on equity investments to maximise their returns in the current low interest rate climate, despite the inevitable rise in exposure to market risk, according to A.M. Best. The rating agency analysed the 500 largest European re/insurers over a six-year period, finding that there was a 2-3% ... Read the full article
Lloyd’s very well positioned in Asia-Pacific, excited about opportunity: Chaplin, Lloyd’s
23rd May 2018
The specialist Lloyd's of London insurance and reinsurance marketplace is well positioned in Asia-Pacific and is focused on building on its solid foundation in the region, which now accounts for 11.5% of the market's global income, according to Kent Chaplin, Chief Executive Officer (CEO) of Asia-Pacific, Lloyd's. Speaking with A.M. BestTV ... Read the full article
U.S. P/C premium growth offset by higher losses & LAE in 2017: A.M. Best
23rd May 2018
For the first time in four years the U.S. property and casualty (P/C) industry saw net premiums written (NPW) increase in 2017, although this was offset by greater losses and loss adjustment expenses (LAE) as a result of 2017 catastrophe events, ultimately driving profit deterioration, reports A.M. Best. The ratings agency ... Read the full article
U.S. life/annuity market growth likely following robust 2017: A.M. Best
23rd May 2018
A.M. Best has announced its expectations for the U.S. life/annuity (L/A) market to build on a generally positive 2017. They see an overall growth in 2018 thanks in part to higher interest rates and continued demand from consumers for both protection and accumulation products. A.M Best also indicated the industry is well ... Read the full article
Digital evolution key to German non-life insurers’ success: A.M. Best
22nd May 2018
German non-life insurers that are successful in their digital evolution will likely benefit from higher growth, better policyholder retention, and ultimately long-term success, A.M. Best believes. Despite a stable outlook on the German non-life sector, where Germany’s robust economy continues to drive growth in the non-life insurance market, it is widely ... Read the full article
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