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: Addressing California’s wildfire losses and the urgent need for insurance market reform
31st January 2025
In AM Best's Briefing: Reinsurance – January 1 Renewals and What to Expect in 2025, insurance experts, including Carlos Wong-Fupuy, Senior Director at AM Best and Kyle Rhodes, President of North American operations at TransRe, discussed the long-term implications of California’s ongoing wildfire crisis for the insurance market, with a ... Read the full article
Reinsurers see capital growth in 2024 amid lower-than-expected hurricane losses: AM Best
29th January 2025
A new AM Best report has observed that the lower-than-expected losses from Hurricanes Helene and Milton, coupled with strong investment income, allowed reinsurers to improve their capital positions in 2024 and supply the market with additional property capacity, influencing pricing heading into 2025. According to the rating agency's report, as the ... Read the full article
AM Best removes SCOR’s ratings from under review
23rd January 2025
AM Best has removed SCOR's ratings from under review with developing implications following the completion of its impact assessment of the French reinsurer's life reserving review. The rating agency has additionally affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings of “a+” (Excellent) of SCOR ... Read the full article
SanlamAllianz Re assigned “Excellent” credit ratings from AM Best with stable outlook
22nd January 2025
Pan-African reinsurer SanlamAllianz Re Ltd (SAZ Re) has been assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent), both with a stable outlook by AM Best. This positive assessment highlights SAZ Re's financial standing, with AM Best acknowledging the company's strong balance sheet, ... Read the full article
Brookfield Annuity Company receives ratings upgrade from AM Best
21st January 2025
AM Best has upgraded Brookfield Annuity Company’s Financial Strength Rating to A (Excellent) from A- (Excellent) and its Long-Term Issuer Credit Rating to “a” (Excellent) from “a-” (Excellent). The outlook for these ratings has been revised to stable from positive. The upgraded ratings reflect Brookfield Annuity Company’s balance sheet strength, which ... Read the full article
AM Best maintains stable outlook on India’s non-life insurance sector amid strong growth
17th January 2025
AM Best, the credit rating agency, has affirmed a stable outlook for India's non-life insurance sector, citing strong growth potential fuelled by regulatory initiatives and increasing insurance demand. Insurance premiums in India’s non-life segment grew at a double-digit rate for the fiscal year ending 31 March 2024 (FY 2024), as detailed ... Read the full article
AM Best maintains negative outlook on Colombia’s insurance industry
16th January 2025
Global credit ratings agency AM Best has maintained its negative outlook on Colombia’s insurance industry due to challenging economic conditions and political uncertainty. Although Colombia’s economy has grown in recent years, its development has been constrained by global economic pressures, high interest rates, and a deteriorating labor market. AM Best also noted ... Read the full article
AM Best assigns A- ratings to Spinnaker’s 100% reinsured subsidiary Wingsail
15th January 2025
Global credit ratings agency AM Best has assigned Wingsail Insurance Company, a fully reinsured subsidiary of Spinnaker Insurance Company, a Financial Strength Rating of A- and a Long-Term Issuer Credit Rating of “a-”, with a stable outlook. AM Best has also affirmed the same ratings and stable outlook for Spinnaker Insurance ... Read the full article
AM Best places VSIC’s ratings under review with positive implications
10th January 2025
Global credit ratings agency AM Best has placed Velocity Specialty Insurance Company’s (VSIC) Financial Strength Rating of A- and Long-Term Issuer Credit Rating of “a-” under review with positive implications. This is following the recent announcement that FM, a commercial property insurer, will acquire VSIC. The deal is expected to ... Read the full article
California wildfire unpredictability may drive insurers to reconsider risk appetite: AM Best
10th January 2025
The longer-term impact on California's insurance market from the Los Angeles County wildfires may be substantial, as insurers will further re-examine their appetites for wildfire risk as it has become highly unpredictable concerning location, intensity and seasonality, according to a new report from AM Best. The Cal Fire Authority has noted ... Read the full article
AM Best names Holzberger as Chief Operating Officer; Johnson as Senior MD & Chief Ratings Officer
10th January 2025
AM Best, a credit rating agency specialising in the insurance industry, has announced the appointment of Kenneth J. Johnson as Senior Managing Director and Chief Ratings Officer, overseeing AM Best's global ratings operations. Johnson will be based at AM Best’s global headquarters in Oldwick, NJ, reporting directly to Stefan Holzberger, who ... Read the full article
ASIC earns AM Best’s affirmation of A- rating with stable outlook
3rd January 2025
AM Specialty Insurance Company has announced that AM Best has reaffirmed its Financial Strength Rating (FSR) of A- (Excellent) with a stable outlook. This recognition highlights ASIC's focus on underwriting quality, disciplined risk management, and growth within the Excess and Surplus (E&S) lines market. AM Best cited ASIC’s exceptionally strong risk-adjusted capitalisation, ... Read the full article
Global reinsurance capital up 7% to $607bn in 2024: Guy Carpenter, AM Best
31st December 2024
Data from Guy Carpenter, the reinsurance broking arm of Marsh McLennan, and ratings agency AM Best, shows that global reinsurer capital has grown by approximately 7% year-on-year, rising from $568 billion in 2023 to a projected $607 billion in 2024, with growth in both traditional and alternative capital. Traditional capital grew ... Read the full article
AM Best maintains stable outlook for Malaysia’s non-life insurance market
30th December 2024
AM Best, a globally recognised credit rating agency specialising in the insurance sector, has maintained a Stable outlook for Malaysia’s non-life insurance market. This assessment is based on key factors such as anticipated premium growth driven by economic recovery, regulatory reforms aimed at increasing insurance penetration, and rate adjustments. However, the segment ... Read the full article
AM Best remains stable on Japan’s life insurance sector amidst premium boom
27th December 2024
Global credit ratings agency AM Best has maintained its stable outlook on Japan's life insurance market segment, citing in part the growth in premium income and stable core profits that are supported by higher levels of investment income. According to the agency, premium income has increased considerably throughout the past two years, ... Read the full article
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