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.
Retro-reinsurance market to be hit with large portion of HIM losses: A.M. Best
12th January 2018
Due to the aggregation of losses from hurricanes Harvey, Irma, and Maria (HIM) the retro-reinsurance market is expected to cover much of the HIM losses, significantly impacting reinsurers earnings but falling short of a capital event, according to A.M. Best. Property/Casualty re/insurers with the biggest HIM reported net losses are; Lloyd's of ... Read the full article
A.M. Best maintains stable outlook for personal lines segment
9th January 2018
A.M. Best has maintained its stable outlook for the personal lines segment as it expects companies to be able to effectively navigate challenging market dynamics, despite the high level of catastrophe losses in 2017. 2017 was a challenging time for personal lines players, as both auto and homeowners' lines suffered from ... Read the full article
A.M. Best revises commercial lines outlook to stable from negative
5th January 2018
International financial services ratings agency, A.M. Best, has revised its outlook for the commercial lines segment to stable from negative, as a result of an embedded change in the sophistication of both the sector's underwriting infrastructure and pricing. Despite the pricing environment remaining challenging and other commercial lines headwinds persisting, the ... Read the full article
Despite hindrances, overall, insurers will benefit from lower corporate tax rate: A.M. Best
3rd January 2018
A.M. Best expects that overall, the insurance industry will see benefits from the reduction in corporate tax rate as a result of The Tax Cuts and Jobs Act, although certain enhancements are likely to mitigate the benefits. The new U.S. tax reform legislation is still awaiting the signature of President Donald ... Read the full article
California wildfires could trigger higher reinsurance rates: A.M. Best
22nd December 2017
Lines of business impacted by the California wildfires may see an uptick in pricing which could trigger higher reinsurance costs as pricing for perils such as smoke, ash, and brush fire may have to be re-evaluated along will terms and conditions for replacement cost values and living expenses, according to ... Read the full article
A.M. Best holds negative outlook on global reinsurance market for 2018
19th December 2017
Despite the impacts of third-quarter 2017 catastrophe events expected to improve reinsurance market conditions, uncertainty surrounding the level of price increases and how sustainable any market improvement might be has led A.M. Best to maintain its negative outlook for the sector for 2018. Heading into the January 1st, 2018 renewals season ... Read the full article
Building block approach highlights EMEA insurers’ robust balance-sheets: A.M. Best
14th November 2017
Analysis of the European Middle East and Africa (EMEA) insurance market using A.M. Best's new building block rating methodology approach, has shown firms' as overall having very robust balance-sheets, adequate and strong operating performance, neutral business profiles, and ... Read the full article
Competitive pressures set to build for UK non-life market
9th November 2017
After the UK non-life market reported an overall underwriting deficit last year in 2017, A.M. Best said the industry will likely continue to reflect ongoing competitive market conditions, although most companies remain buoyed up by robust risk-adjusted capitalisation. The impact of economic uncertainty associated with Brexit and a further increase in insurance ... Read the full article
Multinational insurers face growing market access issues: A.M. Best
8th November 2017
Multinational insurers are facing increasing blockages to open market access as governments across the globe shift towards a protectionist stance that seeks to favour national business. Where protectionism was once typically confined to emerging markets, recent geopolitical developments have meant that the otherwise open markets of the West could now veer ... Read the full article
UK non-life market thrives despite Ogden rate volatility
8th November 2017
Despite UK motor insurers taking a hit to reserves after the stark reduction in the personal injury discount rate and this negatively impacting 2016 results, the UK non-life market remains well capitalised, according to A.M. Best's latest market report. Many insurers had been preparing for a lower rate in their reserving strategies, ... Read the full article
Restrictions for global players on the rise in EMEA markets: A.M. Best
3rd November 2017
The fallout of low oil prices, the Russian crisis of 2014 to 2017, the UK’s exit from the EU, and the Trump administration’s swing towards protectionism have all contributed to mounting economic & geopolitical pressures, impacting re/insurers by driving an anti-globalisation shift. A.M. Best highlighted the trend towards protectionist measures on ... Read the full article
Reinsurance industry strongly capitalized, on an aggregate basis: A.M. Best
25th October 2017
The global reinsurance industry remains strongly capitalized on an aggregate basis, according to rating agency A.M. Best, despite the impacts of losses from the recent hurricanes. A.M. Best has completed an analysis of the global reinsurance industry, using its updated Best’s Credit Rating Methodology (BCRM). The new "building block" approach to ... Read the full article
U.S. captive market thrives despite market pressure: A.M. Best
23rd October 2017
With the number of captives growing by 4.4% last year, the U.S. captive market enjoys an unparalleled position in the re/insurance value chain - disconnected from the competition and operating challenges felt by the rest of the sector it boasts strong financial positions and stable ratings, according to A.M. Bests’ U.S. captives ... Read the full article
No rating action for Caribbean/Puerto Rico cedants after Irma & Maria: A.M. Best
18th October 2017
Global financial services ratings agency, A.M. Best, does not expect to take any Credit Rating actions against insurers in the Caribbean and Puerto Rico after the devastating impacts of hurricanes Maria and Irma. Despite loss estimates from Maria being large, A.M. Best doesn't expect to take any rating action against insurers ... Read the full article
A.M. Best welcomes signing of US/EU covered reinsurance agreement
18th October 2017
International financial services ratings agency, A.M. Best, has praised the signing of the covered agreement between the U.S. and Europe relating to insurance and reinsurance measures, highlighting benefits for both sides. The negotiations surrounding the agreement took some time to materialise, but in late September it was announced that the agreement ... Read the full article
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