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 upgrades Conduit Re’s outlook to positive, affirms A- rating
18th December 2024
CHL, the parent company of Conduit Re, a multi-line Bermuda-domiciled reinsurer, has confirmed that AM Best has affirmed Conduit Re's Financial Strength Rating of "A-" (Excellent) and Long-Term Issuer Credit Rating of "a-" (Excellent) and raised the ratings outlook to positive from stable. AM Best explained that the change in ratings ... Read the full article
AM Best maintains negative outlook on Germany’s non-life insurance sector amid inflationary pressures
18th December 2024
AM Best, the global credit ratings agency, has confirmed that it is maintaining its negative outlook for the German non-life insurance segment, citing moderate growth on an inflation-adjusted basis, as well as a persistent claims inflation and competitive environment impacting underwriting profitability. In a new report, the agency reveals that it ... Read the full article
US nonstandard auto insurance manages to squeeze small profit in H1’24, AM Best
13th December 2024
According to AM Best, the global credit ratings agency, the US nonstandard auto insurance segment has posted a slight profit for the first half of 2024, following two years of unprofitable but improving results. A new report released by the agency states that the results of the companies that comprise AM ... Read the full article
Korean Re sees Issuer Credit Rating upgraded by AM Best
13th December 2024
Credit rating agency AM Best has upgraded Korean Reinsurance Company’s (KRE) Long-Term Issuer Credit Rating (Long-Term ICR) to “a+” (Excellent) from “a” (Excellent) and affirmed its Financial Strength Rating (FSR) of A (Excellent). Additionally, AM Best has revised the outlook of the Long-Term ICR to stable from positive while the outlook ... Read the full article
QBE secures class 4 license in Bermuda
12th December 2024
Global insurer QBE now has a class 4 license in Bermuda, providing the reinsurance arm, QBE Re, with further optionality in the balance sheets it offers its cedants. In a recent LinkedIn post, QBE Re said, “This is a great complement to the underwriting capability we have been building in Bermuda ... Read the full article
US life/annuity net income decreases 30.5% in 9M’24, AM Best
12th December 2024
In the first nine months of 2024, US life/annuity total income was up 5.3% from the previous year, primarily due to increases of 13.7% in premiums and annuity considerations, as well as a 9.6% rise in net investment income, according to global credit ratings agency AM Best. A new report released ... Read the full article
AM Best upgrades credit ratings of Generali and its subsidiaries
11th December 2024
Ratings agency AM Best has upgraded the Financial Strength Rating (FSR) of Assicurazioni Generali S.p.A. (Generali) (Italy) and its main rated subsidiaries to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “aa-” (Superior) from “a+” (Excellent). Concurrently, Generali's Long-Term Issue Credit Ratings (Long-Term IRs) of ... Read the full article
New domiciles are impacting the landscape of the European captive insurance segment: AM Best
10th December 2024
New European captive domiciles are seeing growth in company formations, including redomicilations from other jurisdictions, according to AM Best. In a new report, the agency reveals that France is leading the way in terms of new captive formations in Europe in 2023 and 2024. In 2023, five new captive licences were ... Read the full article
AM Best affirms Singapore Re’s Credit Ratings with stable outlook
10th December 2024
AM Best has affirmed Singapore Reinsurance Corporation Limited’s (Singapore Re) Financial Strength Rating of A and Long-Term Issuer Credit Rating of “a”, with a stable outlook for these ratings. The ratings reflect Singapore Re’s balance sheet strength, which AM Best assesses as strong, adequate operating performance, limited business profile, and effective ... Read the full article
AM Best affirms Lancashire’s credit ratings
9th December 2024
AM Best has affirmed the credit ratings for Bermuda-based Lancashire Holdings Limited and its subsidiaries, assigning a stable outlook. The agency affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a+” (Excellent) of Lancashire Insurance Company Limited and Lancashire Insurance Company (UK) ... Read the full article
UK personal injury discount rate increase positive for insurers: AM Best
9th December 2024
AM Best believes the recent changes to the UK's personal injury discount rate (PIDR), also known as the Ogden Discount Rate, will positively impact the country's non-life insurers. The UK government announced an increase in the rate from -0.25% to 0.50%, which will become effective from January 11, 2025. The PIDR is ... Read the full article
Outlook remains stable for US life/annuity insurance, says AM Best
6th December 2024
Global credit ratings agency AM Best has maintained its stable outlook for the US life/annuity insurance segment, citing strong capitalisation across the industry, as well as robust top-line growth in core lines of business and consistent profitability trends. According to analysts, the life/annuity segment has benefited from favourable interest rates in recent ... Read the full article
9M’24 results show $4.1bn underwriting gain for US P&C industry: AM Best
4th December 2024
According to AM Best, the US property and casualty (P&C) industry posted a $4.1 billion net underwriting gain in the first nine months of 2024, in comparison to a $32.1 billion loss recorded in the prior year period. At the same time, the US P&C industry recorded a $130 billion net ... Read the full article
AM Best revises outlook for US personal lines insurance to stable
4th December 2024
Global credit ratings agency AM Best has revised its outlook for the US personal lines insurance segment to stable from negative, in line with a corresponding change in the personal auto outlook to stable from negative. According to the agency, the shift in the personal lines segment outlook is owed to ... Read the full article
Outlook remains stable for US commercial lines, says AM Best
2nd December 2024
AM Best, the global credit ratings agency, is maintaining its stable market segment outlook on the US commercial lines insurance sector for 2025, supported by the segment's strong underwriting performance and improved investment returns, both of which have bolstered operating profitability. According to the agency, the stable outlook reflects AM Best's ... Read the full article
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