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.
P&C insurers on Caribbean Islands to pass on most Irma losses to reinsurers
7th September 2017
As Hurricane Irma blazes its trail across the Atlantic and wrecks havoc on the Caribbean Islands in its wake, re/insurers providing property and casualty protection in the area are expecting substantial losses, most of which will be passed on to financially strong reinsurers, according to A.M. Best. A.M. Best explained that ... Read the full article
Reinsurers’ evolution must continue as challenges & uncertainty persists: A.M. Best
5th September 2017
The global reinsurance sector remains extremely challenging with limited opportunity for organic growth and declining profitability on both sides of the balance sheet, which, suggests reinsurers will need to continue adapting and evolving to the changing landscape, according to A.M. Best. Despite the widespread impact of hurricane Harvey, which is yet ... Read the full article
Texas insurers to withstand Harvey losses: A.M. Best
1st September 2017
Despite a challenging opening six months of the year, combined with the impact of hurricane Harvey for Texas insurance companies, A.M. Best expects firms to withstand losses from the storm. The global rating agency has said that it expects Texas insurers to be able to withstand the loss impact from hurricane ... Read the full article
U.S. p/c industry sees continued credit rating improvement
31st August 2017
Credit rating for U.S. p/c industry was favourable, reflecting the stability of the sector with 86% of rating actions being affirmations and the rate of upgrades continuing to outpace those of last year, according to A.M. Best’s special report. The personal lines segment was given a stable outlook, but the sector ... Read the full article
U.S. stop-loss insurance market more than doubles after ACA
30th August 2017
Life and health insurers' net premiums for stop-loss have more than doubled in the last six years, jumping from $6.7 billion in 2011 to $14.3 billion in 2016 as employers shift towards taking on more health care risks after the introduction of the Patient Protection and Affordable Care Act (ACA), ... Read the full article
Collaboration between re/insurers & cyber modellers a “positive step” says A.M. Best
26th July 2017
In light of a recent cyber risk report produced by the Lloyd's of London marketplace and cyber risk analytics firm, Cyence, rating agency A.M. Best has welcomed the collaborative effort to improving the understanding and management of cyber risk, describing the report as "a positive step forward." The report, Counting the ... Read the full article
European cyber demand to grow as re/insurers prepare for GDPR: A.M. Best
13th July 2017
Re/insurers are taking steps to shore up their data usage as new data protection laws, the General Data Protection Regulation (GDPR) are set to be implemented across the European Union (EU), bringing an anticipated boom in cyber insurance revenues, according to A.M. Best's recent market briefing. The GDPR will come into force ... Read the full article
Soft reinsurance market a plus for Caribbean insurers: A.M. Best
13th July 2017
Despite intense competition, low-interest rates and persistent soft markets, the majority of rated Caribbean general insurers maintained profitability in 2016, as players took advantage of soft reinsurance market pricing and the benign loss environment, according to A.M. Best. In a recent industry note, analysts at A.M. Best have underlined the extensive ... Read the full article
Cyber cover to become one of leading U.S. P&C growth areas: A.M. Best
12th July 2017
Cyber cover, estimated to range from $7.5 billion - $20 billion by 2020, is predicted by industry observers to become one of the leading areas of U.S. Property & Casualty market growth, and the sector is shifting to accommodate this growth, moving from underwriting cyber as part of a combined policy ... Read the full article
Lloyd’s needs to raise its profile to be a market for the future: Cavanagh
7th June 2017
The growth of insurance and reinsurance centres around the world, the consolidation of the broker community, and challenging market conditions have created an increasingly competitive operating landscape, driving a need for the Lloyd's of London marketplace to raise its profile, warns Willis Re Chief Executive Officer (CEO), John Cavanagh. International ratings agency A.M. ... Read the full article
Caribbean insurers take advantage of soft reinsurance market: A.M. Best
1st June 2017
Overall, the Caribbean insurance market remained profitable in 2016 despite the region's high exposure to a variety of natural catastrophe events, helped by the softening reinsurance pricing landscape and the high use of reinsurance protection amongst Caribbean firms, says A.M. Best. International rating agency A.M. Best has underlined the high use of ... Read the full article
U.S. Life & Health sector net income up 73.5% in Q1 2017: A.M. Best
1st June 2017
The U.S. Life/Health (L/H) insurance and reinsurance industry recorded net income of $7.7 billion in the first-quarter of 2017 compared with $4.5 billion a year earlier, representing growth of 73.5%, according to analysis from global rating agency A.M. Best. The analysis includes data from companies that make up an estimated 84% ... Read the full article
Challenges continue for the U.S. P&C market: A.M. Best
26th May 2017
A.M. Best's preliminary first-quarter report on U.S. property and casualty re/insurance has shown the market is still navigating challenging waters as the trend industry loss trend continues, 2017 Q1 saw a significant net underwriting loss of $841.5 million, however, far from seriously rocking the boat, the losses don't come near the $2 ... Read the full article
Re/insurance to take minimal share of $8 billion WannaCry economic loss: A.M. Best
23rd May 2017
Insurance industry focused cyber-security firm, Cyence, has pegged the WannaCry ransomware attack economic loss at an estimated $8 billion, although insurance and reinsurance protection is expected to cover just a fraction of this, warns A.M. Best. The recent, global ransomware attack that impacted 150 countries and that was felt across a number of ... Read the full article
Reinsurance buying driven by expansion into new lines: A.M. Best
18th May 2017
Europe's 20 largest cedants have been increasing their reinsurance purchasing as they grow their product offerings with new lines of business that typically require greater technical and financial support, said A.M. Best Senior Director, Carlos Wong-Fupuy, commenting on the rating agency's latest reports on large European insurers' reinsurance ceding trends. As cyber, ... Read the full article
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