Reinsurance News
AM Best
Insurance and reinsurance industry news that mentions rating agency AM Best. AM Best is a key rating agency for insurers and reinsurers, with its insurance and reinsurance ratings and analysis closely watched by market participants.
AM Best revises issuer credit rating outlook to positive for Arch Capital
10th March 2025
AM Best has revised the outlooks to positive from stable for the Long-Term Issuer Credit Ratings (Long-Term ICRs) for Arch Capital Group Ltd. and its subsidiaries. The credit rating agency also affirmed the global re/insurer’s Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term ICRs of “aa-” (Superior) of Arch ... Read the full article
AM Best assigns credit ratings to Popular Re with stable outlook
10th March 2025
AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of “bbb” (Good) to Puerto Rican reinsurer Popular Re, with a stable outlook. The ratings reflect AM Best's assessment of Popular Re's strong balance sheet, adequate operating performance, limited business profile, and appropriate enterprise ... Read the full article
Cavello Bay Re receives A (Excellent) financial strength rating from AM Best
7th March 2025
AM Best, the credit rating agency, has assigned Cavello Bay Reinsurance Limited, a subsidiary of Enstar Group Limited based in Bermuda, a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a+” (Excellent), while both ratings come with a stable outlook. These ratings reflect Cavello Bay’s robust ... Read the full article
AM Best: Casualty reinsurance faces financial strain amid rising litigation costs and social inflation
26th February 2025
Rising litigation expenses and increased jury awards are placing significant financial strain on the casualty reinsurance sector, leading some carriers to bolster their reserves and squeeze profit margins, according to a recent AM Best report. The Best’s Market Segment Report, titled “Casualty Reinsurance Capacity Remains Plentiful Amid Concerns,” highlights that reinsurers ... Read the full article
Annuity growth drives reinsurance demand and sidecar popularity: AM Best
24th February 2025
Annuities have grown significantly amid rising interest rates, creating a need for additional capital in the reinsurance market, which has led to increased use of reinsurance and the growing popularity of sidecars to manage risk and support larger deals, according to a recent report by AM Best. The annuity growth has ... Read the full article
AM Best revises Mercury’s outlook to negative following LA wildfire losses
20th February 2025
Credit rating agency AM Best has revised the outlooks to negative from stable for Mercury General Corporation and its subsidiaries following significant losses from the recent California wildfires. The fires, which began on January 7, 2025, are estimated to cost Mercury General between $1.6 billion and $2 billion in gross losses. The ... Read the full article
US P&C industry results improve in 2024 despite $2.6bn underwriting loss: AM Best
20th February 2025
The US property and casualty (P&C) insurance industry saw a significant improvement in its 2024 results, with momentum expected to continue into 2025, despite an estimated net underwriting loss of $2.6 billion in 2024, according to a recent AM Best report. AM Best attributes part of this progress to higher interest ... Read the full article
P&I clubs maintain record-high free reserves amid technical challenges: AM Best
20th February 2025
AM Best, a credit rating agency specialising in the insurance industry, reports that despite ongoing technical performance challenges, Protection & Indemnity (P&I) clubs continue to hold record-high free reserves. These clubs, which provide mutual marine insurance for shipowners, face rising reinsurance costs and evolving risk factors, yet their financial resilience remains ... Read the full article
AM Best assigns ratings to SoteriaRe
17th February 2025
AM Best has assigned Soteria Reinsurance Ltd. a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent), with a stable outlook. Soteria Re, launched in 2023, is an incorporated Class C insurer registered in Bermuda with focus on the US retail fixed annuities and ... Read the full article
Florida insurance market improving, challenges remain for reinsurers: TransRe’s Rhodes
17th February 2025
Florida's tumultuous insurance market is showing signs of improvement, raising hopes for some relief in upcoming June renewals, Kyle Rhodes, President, North American operations at TransRe stated during AM Best’s recent Reinsurance Briefing. Experts are cautiously optimistic, pointing to a number of factors, including reinsurance rate adjustments and legislative reforms, as ... Read the full article
Aon Securities arranges $500m surplus note for California-based CSAA
12th February 2025
Insurance and reinsurance broker Aon's investment banking and capital markets division, Aon Securities, has structured and placed $500 million surplus notes issued by Northern California insurer CSAA Insurance Exchange, Reinsurance News understands. The $500 million, 8.125% surplus notes, due February 2045, have been assigned a Long-Term Issue Credit Rating of “a-” ... Read the full article
AM Best revises outlook to positive for IAT Re and most operating subsidiaries
11th February 2025
AM Best, the credit rating agency, has revised the outlook for IAT Reinsurance Company Ltd. (IAT Re) (Cayman Islands) to positive from stable. The Financial Strength Rating (FSR) of A- (Excellent) and Long-Term Issuer Credit Rating (Long-Term ICR) of "a-" (Excellent) have been affirmed for the firm. Concurrently, AM Best has revised ... Read the full article
Bermuda reinsurance start-up Mereo launches with initial capital of over $700m
10th February 2025
Bermuda-based, integrated reinsurance platform Mereo has launched with initial capital of more than $700 million, after receiving full regulatory authority from the Bermuda Monetary Authority (BMA) and an A- rating from AM Best, Reinsurance News understands. It was revealed around the 2024 annual meeting of the reinsurance industry in Monte Carlo ... Read the full article
AM Best highlights strain on re/insurers from California wildfires and rising FAIR Plan policies
10th February 2025
AM Best, a credit rating agency specialising in the insurance sector, reports that the recent surge of wildfires across Southern California has deepened existing challenges for insurers, worsening underwriting performance, increasing reinsurance exposure, and destabilising the market. Since January 7, 2025, over 30 wildfires—including the Palisades and Eaton fires—have scorched the ... Read the full article
AM Best upgrades outlook to positive for RLI Group and affirms strong financial ratings
5th February 2025
AM Best, a credit rating agency specialising in the insurance industry, has revised the outlook for the insurance company RLI Group (RLI) to positive from stable while affirming its Financial Strength Rating (FSR) of A+ (Superior) and its Long-Term Issuer Credit Rating (Long-Term ICR) of “aa” (Superior). The outlook for RLI’s ... Read the full article
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