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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 outlook for US private passenger auto insurance to stable
2nd December 2024
According to a new AM Best report, a global credit rating agency, underwriting results in the US private passenger auto insurance sector have continued to stabilise in the first half of 2024, following improvements in 2023. As a result of the stronger segment performance and other contributing factors, AM Best has ... Read the full article
AM Best upgrades AzRe’s financial strength and issuer credit ratings
29th November 2024
AM Best, the credit rating agency, has upgraded the Financial Strength Rating of AzRe Reinsurance, OJSC (AzRe) to B++ (Good) from B+ (Good), and its Long-Term Issuer Credit Rating to “bbb” (Good) from “bbb-” (Good), with a stable outlook for both ratings. These upgrades reflect AzRe’s strong balance sheet, which AM ... Read the full article
AM Best maintains stable outlook on US health insurance segment
28th November 2024
Credit rating agency AM Best has maintained its stable outlook for the US health insurance market, citing strong capitalisation and profitability as key factors, among others, despite declining underwriting results. In 2023, the health insurance sector witnessed favourable overall earnings, with net investment income contributing positively to the industry's financial performance, ... Read the full article
AM Best assigns A- ratings to Fed Re with stable outlook
28th November 2024
Global credit ratings agency AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Fed Re Ltd. (Fed Re) (Bermuda), with a stable outlook. According to AM Best, the ratings reflect Fed Re’s balance sheet strength, which the agency assesses as ... Read the full article
AM Best upgrades credit ratings of Zurich and its core subsidiaries
27th November 2024
AM Best has upgraded the Issuer Credit Ratings of Zurich Insurance Group and its core subsidiaries, highlighting the firm's robust balance sheet, strong operating performance, and very favourable business profile as key factors driving the decision. Namely, AM Best has upgraded the Long-Term Issuer Credit Ratings (Long-Term ICR) to “aa” (Superior) ... Read the full article
AM Best maintains stable outlook for South Korea’s non-life insurance sector
26th November 2024
AM Best has maintained a stable outlook for South Korea's non-life insurance sector, citing moderate industry growth driven by long-term business as insurers focus on securing stable future profits under IFRS 17 accounting standards. The global ratings agency noted that new regulations are encouraging insurers to enhance profitability despite growing competition, ... Read the full article
AM Best maintains positive outlook on DUAE segment
22nd November 2024
Ratings agency AM Best maintains a positive market segment outlook for the delegated underwriting authority enterprise (DUAE) segment, driven by sustained growth and niche expertise, despite potential challenges arising from capacity issues and rapid expansion. The DUAE distribution channel continues to increase its market share, supported by strong and consistent premium ... Read the full article
Asbestos and environmental losses holding steady: AM Best
21st November 2024
A recent report by AM Best maintains its estimate of ultimate net asbestos losses at $100 billion and environmental losses at $46 billion, based on year-end 2023 data. AM Best observed that while incurred losses rose slightly in 2023, paid losses decreased significantly. The industry has now funded 96% of its ... Read the full article
AM Best maintains positive reinsurance sector outlook amid tailwinds in property
20th November 2024
Despite losses from hurricanes Helene and Milton in the second half of the year, underwriting profit margins remain strong for reinsurers and 2024 is poised to be another solid year for the sector, leading ratings agency AM Best to maintain its positive outlook for the global reinsurance industry. AM Best ... Read the full article
AM Best revises TMHCC Mexico’s outlook to negative from stable
19th November 2024
AM Best, the global credit ratings agency, has revised the outlook to negative from stable and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” (Excellent) of Tokio Marine HCC Mexico Compañía Afianzadora, S.A. de C.V. (TMHCC Mexico). Concurrently, AM Best ... Read the full article
AM Best maintains stable outlook for New Zealand’s non-life insurance sector
15th November 2024
AM Best, the global credit ratings agency, is maintaining a stable outlook on the New Zealand non-life insurance segment, citing the sector's robust premium growth supported by rate adjustments, notably within the property, motor and commercial segments, in spite of a challenging economic environment. The agency also cites positive factors, including, good ... Read the full article
UK Solvency updates to boost life insurers with further flexibility, says AM Best
12th November 2024
According to ratings agency AM Best, the upcoming changes to the UK's solvency regulations - which are expected to be finalised in November - are likely to bring positive impacts to UK insurers. The reforms follow the Prudential Regulation Authority’s (PRA) review of Solvency II, and will largely impact the life ... Read the full article
AM Best upgrades Milli Re on improved balance-sheet strength fundamentals
8th November 2024
AM Best, the global credit ratings agency, has upgraded the Financial Strength Rating to C+ (Marginal) from C (Weak) and the Long-Term Issuer Credit Rating to “b-” (Marginal) from “ccc” (Weak) of Millî Reasürans Türk Anonim Şirketi (Milli Re) (Türkiye), with the outlook of these ratings being stable. According to AM ... Read the full article
Reinsurers post 22% ROE in 2023, Helene & Milton to stall softening, says AM Best
1st November 2024
Solid underwriting conditions, combined with a turnaround in unrealised losses drove reinsurers to a 22% return on equity (ROE) in 2023, states global ratings agency AM Best. However, the agency has also said that higher attachment points would make 2024 hurricane claims manageable. A new report from the agency notes that AM Best’s ... Read the full article
AM Best downgrades SCFBG’s ratings driven by Hurricane Helene losses
25th October 2024
Global ratings agency AM Best has downgraded the Issuer Credit Ratings of South Carolina Farm Bureau Group (SCFBG) due to ongoing volatility in its operating results, primarily driven by weather-related events and inflationary pressures, particularly significant losses from Hurricane Helene. SCFBG comprises South Carolina Farm Bureau Mutual Insurance Company and its ... Read the full article
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