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.
AM Best negative on Qatar General Insurance & Reinsurance
3rd May 2022
AM Best has opted to maintain a negative outlook on the credit ratings of Qatar General Insurance & Reinsurance Company QPSC (QGIRC) (Qatar). The rating agency explained that the outlook reflects concerns regarding the adequacy of QGIRC's risk management and internal controls following the regulatory solvency breach in 2020 by its ... Read the full article
US life/annuity insurers’ revenue up by $35 billion: AM Best
22nd April 2022
According to a new AM Best report, publicly traded U.S life/annuity insurance companies saw a strong recovery in 2021, with a $35 billion increase in revenue to $297.5 billion. This recovery took place coming on the back of a modest increase in premiums as well as increases in net investment income ... Read the full article
Tech investments main obstacle to growing P&C sales: AM Best
22nd April 2022
A new survey of property and casualty (P&C) insurers by AM Best has found that more than half of respondents consider digitization and technological investments to be the biggest challenges in modernizing distribution and growing sales. The rating agency found that 56% of respondents that viewed digitalization and technological investment as ... Read the full article
R&Q ratings under review after takeover announcement
5th April 2022
AM Best has placed the ratings of R&Q and its subsidiaries under review with developing implications, following last week’s announcement that the company will be acquired by one of its major shareholders, in an deal backed by investment group 777 Partners. The developing implications reflect uncertainties surrounding R&Q’s prospective risk-adjusted ... Read the full article
COVID widened insurance innovation divide: AM Best
28th March 2022
Analysts at AM Best have argued that the COVID-19 pandemic has widened the ‘innovation divide’ among nonlife re/insurers, with a clear link to better top-line growth for insurers with more-developed innovation initiatives. In a new report, the rating agency found that global nonlife insurers with higher innovation assessments had a five-year ... Read the full article
Fundamental problems persist in D&O market: AM Best
24th March 2022
Rate increases have led to sizable premium growth in the US directors and officers (D&O) insurance, but loss ratios have not yet shown improvement, according to a new AM Best report. The rating agency notes that through the first three quarters of 2021, the growth rate of direct D&O premium compared ... Read the full article
US insurers face significant Russian exposures: AM Best
9th March 2022
Analysts at AM Best have warned that US insurers and reinsurers face “significant” exposure to the economic fallout of sanctions placed on Russia, following its widely-condemned invasion of Ukraine. Many Western nations, in addition to members of NATO, have imposed steep sanctions on Russia, targeting everything from its central bank and ... Read the full article
Thai insurers under COVID claims pressure: AM Best
9th March 2022
Operating losses relating to medical insurance products covering COVID-19 infections have put considerable strain on the operating performance and balance sheets of several Thailand insurers, according to analysts at AM Best. The rating agency notes that most of the COVID-19 claims in the country have come from a short-term policy that ... Read the full article
AM Best downgrades Saipem’s captive reinsurer, Sigurd
18th February 2022
AM Best has decided to downgrade the credits of Sigurd Rück AG (Sigurd) (Switzerland) and place them under review with negative implications, due to its association with parent company Saipem S.p.A. Earlier this month, Saipem warned it would report a 2021 loss of over one-third of its equity, following €1 billion ... Read the full article
Hardening market causing capacity concerns for MGAs: AM Best
15th February 2022
Analysts at AM Best have warned that hardening underwriting conditions and reduced availability of underwriting capacity are posing challenges for UK Managing General Agents (MGAs). The rating agency sees MGAs with profitable records, niche business, or strong technology integration as being best positioned to navigate these difficult conditions. Accessing financially secure capacity ... Read the full article
AM Best assigns ratings to Sixth Street affiliate Sutton Life Re
7th February 2022
AM Best has assigned a Financial Strength Rating (FSR) of A-(Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent) to Sutton Life Re Ltd. (Sutton Life Re) (Hamilton, Bermuda). The ratings, which both have a stable outlook, reflect Sutton Life Re’s balance sheet strength, which AM Best assesses ... Read the full article
AM Best sees re/insurance opportunity amid shifting market
4th February 2022
Analysts at AM Best have argued there are significant opportunities available to re/insurers that are quick to innovate amid increasingly complex market conditions. In a new report, the rating agency reflected on the shifting risk landscape in the re/insurance market, which is being increasingly influenced by technological advancements, as well as ... Read the full article
AM Best finalises ratings for Brookfield’s Cayman reinsurer
4th February 2022
AM Best has finalised its financial strength and credit ratings for North End Re (Cayman), a segregated portfolio company owned by Brookfield Asset Management. The rating agency assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to the unit, in line with Read the full article
AM Best warns of secondary peril threat to insurer profitability
24th January 2022
Analysts at AM Best have warned that insurers and reinsurers with exposure to secondary perils will face heightened enterprise risk managements concerns and impacts to bottom-line profitability. In a new report, the rating agency notes that secondary peril events are becoming more impactful and generating an increasingly large amount of insured ... Read the full article
US infrastructure package to boost surety market: AM Best
17th January 2022
Analysts at AM Best are expecting a recently enacted $1.2 trillion US infrastructure to result in more business opportunities for surety companies due to new investments in the transportation and energy sectors. The new law includes $550 billion in new spending on infrastructure over the next five years and billions more ... Read the full article
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