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.
L&H cat bonds most at risk from COVID-19: AM Best
15th May 2020
Analysts at AM Best believe that life and health (L&H) related catastrophe bonds face the greatest threat of losses from the COVID-19 pandemic, compared with other insurance-linked securities (ILS). The rating agency expects the overall impact of the pandemic on the ILS market to be limited, given that the underlying risk ... Read the full article
Indonesia holding company to support state-owned insurers: AM Best
11th May 2020
AM Best believes that the upcoming establishment of an insurance holding company by Indonesia’s government will lead to greater corporate governance of state-owned insurers. Indonesia’s Ministry of State-Owned Enterprises is in the process of establishing an insurance holding company, to be led by state-owned investment holding company PT Bahana Pembinaan Usaha ... Read the full article
Rating agencies downgrade AXIS, company responds
6th May 2020
Global financial services ratings agencies have taken actions against AXIS Capital and its subsidiaries, citing the economic impact of the coronavirus (COVID-19) pandemic and a deteriorating operating performance. Specifically, Fitch Ratings has revised its outlook for AXIS from stable to negative, citing the economic impact of the pandemic. At the same time, ... Read the full article
Transverse Insurance Group’s E&S carrier receives A- rating from A.M. Best
1st May 2020
Transverse Insurance Group, a leading program carrier, has announced that its E&S carrier, Transverse Specialty Insurance Company, has received a Financial Strength Rating (FSR) of A- (Excellent) from global financial services ratings agency, A.M. Best. The company acquired its E&S carrier in January of this year, which followed its takeover ... Read the full article
US life/health industry achieves 13% income growth: AM Best
29th April 2020
The US life and health industry achieved 12.6% growth in net income for 2019, finishing the year at $45.6 billion, according to analysts at AM Best. According to a new report from the rating agency, the life/annuity industry’s total income for 2019 increased by 3.0% to $872.3 billion compared with the ... Read the full article
AM Best downgrades Kenya Re outlook
24th April 2020
AM Best has revised its Long-Term Issuer Credit Rating (Long-Term ICR) outlook to negative from stable for Kenya Reinsurance Corporation Limited (Kenya Re). The rating agency explained that the negative outlook on the Long-Term ICR reflects Kenya Re’s poor technical performance in recent years It noted that this performance has been demonstrated ... Read the full article
Lower cat losses to lift US P&C profits: AM Best
23rd April 2020
AM Best expects the financial performance of the US property and casualty (P&C) industry to show improvement for 2019, with results benefiting from a lower level of catastrophe losses and an improving rate environment in key lines, particularly short-tail property lines. The rating agency expects the 2019 combined ratio to improve ... Read the full article
AM Best turns negative on Bolivia insurance
22nd April 2020
AM Best has revised its market segment outlook on Bolivia’s insurance industry to negative from stable, owing mainly to the coronavirus (COVID-19) pandemic. The rating agency noted that the outbreak has exacerbated Bolivia’s political turmoil and contributed to an overall slowdown in economic activity. In combination with the vulnerable economic environment and ... Read the full article
AM Best forecasts hit to insurer capital from equity exposures
20th April 2020
AM Best has predicted that re/insurers could see their capital and surplus hit as a result of sharp equity market declines caused by the coronavirus (COVID-19) pandemic. The rating agency added that surplus losses could exceed those experience in the 2008 to 2009 financial crisis. Analysts observed that the 20% decline in ... Read the full article
AM Best maintains negative outlook on UK non-life
16th April 2020
Rating agency AM Best has opted to maintain its negative outlook on the UK non-life insurance market, due to factors such as lower premiums following the COVID-19 pandemic, strong competitive pressures on underwriting performance, and Brexit-related uncertainty. Analysts noted that the underwriting margins of UK non-life insurers are likely to be ... Read the full article
A.M. Best turns negative on US private mortgage insurance market
9th April 2020
Ratings agency A.M. Best has revised its outlook on the U.S. private mortgage insurance market to negative from stable, as a result of the widespread uncertainty being caused by the ongoing COVID-19 coronavirus pandemic. According to A.M. Best, the viability of the primary and secondary markets for mortgages in the U.S. ... Read the full article
AM Best negative on US commercial lines, stable on personal lines
8th April 2020
AM Best has revised its outlook on the US commercial lines industry to negative from stable due to the impact of COVID-19, but has maintained a stable outlook on US personal lines. The rating agency does not expect significant claims activity in commercial lines owing directly to the pandemic, although virus-related ... Read the full article
AM Best turns negative on France, Italy & UK life markets
7th April 2020
AM Best has revised its outlook for the life insurance markets in France, Italy and the UK to negative, due to concerns about the financial and economic headwinds caused by the coronavirus (COVID-19) pandemic. In France, the rating agency noted that technical margins have already been under pressure for a number ... Read the full article
A.M. Best maintains stable outlook for global reinsurance
6th April 2020
Positive rate momentum across a broad range of non-life classes of business, combined with a stable market landscape in the global life segment, has led A.M. Best to maintain its stable outlook for the global reinsurance sector. In a new report, the ratings agency notes that while the operating and competitive ... Read the full article
AM Best turns negative on Mexico insurance due to COVID-19
31st March 2020
AM Best has revised its outlook for Mexico’s insurance and surety industry from stable to negative due to the COVID-19 pandemic and its anticipated impact on the economy and international markets. The rating agency explained that the pandemic has aggravated the economic fundamentals that its stable outlook had been based on, ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
