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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 affirms Fidelis ratings following separation from MGU
6th February 2023
AM Best has removed from under review with negative implications and affirmed the credit ratings of Fidelis Insurance Holdings Limited and its subsidiaries. AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of ... Read the full article
Trade credit insurers “taking steps” to anticipate challenges in 2023: AM Best
3rd February 2023
A new report from AM Best addresses how trade credit insurers have continued to enjoy strong results through 2022, and that these results follow on from good performances from the last two years, and have come despite provisions from the conflict in Ukraine and the sanctions imposed on Russia. The report ... Read the full article
Likelihood of US economy falling into recession in 2023 is rising: AM Best
2nd February 2023
A new report from AM Best has cited that with economic activity expected to slow in 2023, and the likelihood that the Federal Reserve will continue to tighten monetary policy, the probability of the US economy falling into a recession over the next 12 months is steadily rising. In Best’s report, ... Read the full article
P&C leverage ratios remain elevated due to capital declines: AM Best
1st February 2023
A new report from AM Best has stated that a combination of factors which includes rising interest rates, increased unrealized losses, and declines in capital, has led to leverage ratios ticking up among US property & casualty (P&C) insurers. The report, titled ‘U.S. P/C Insurers’ Leverage Ratios Remain Elevated Due to ... Read the full article
Heavy loss years often followed by innovation in the market: Aeolus’ Dutt
1st February 2023
Speaking at an AM Best expert panel that discussed the need to ford the gap between available capacity and reinsurance demand, Aditya Dutt, President of Aeolus Capital Management, suggested that despite heavy losses in recent years, such times have often acted as a catalyst for innovation in the market. Dutt described ... Read the full article
California flooding will shine a spotlight on private flood insurance: AM Best
18th January 2023
A report from AM Best has suggested that the historic ongoing flooding in California highlights a need for a robust private flood market. Since late December, California has been hit with extreme rain and winds, leaving entire neighbourhoods under water, downing trees, and causing severe mudslides. AM Best's report explains that the ... Read the full article
AM Best turns negative on Canopius ratings
16th January 2023
Rating agency AM Best has revised the outlooks to negative from stable for Canopius US Insurance, Inc. and Canopius Reinsurance Limited. At the same time, the rating agency affirmed both entities, which are wholly owned subsidiaries of Canopius Group Limited, a Financial Strength Rating of A- (Excellent) and the Long-Term Issuer ... Read the full article
Once again, UnitedHealth is the world’s largest insurer ranked by NPW
11th January 2023
Over 12% growth in net premiums written (NPW) in 2021 ensured that UnitedHealth Group Incorporated remains the world's largest insurance company when ranked by NPW, while global insurer Allianz sits atop the table when ranked by non-banking assets. Our directory of the World’s Largest Insurance Companies, which is ... Read the full article
AM Best upgrades TransRe credit ratings
11th January 2023
AM Best has upgraded the credit ratings of TransRe, a reinsurance company wholly owned by Alleghany Corporation, and removed them from under review with positive implications. The reinsurer, and its subsidiaries, now hold a Financial Strength Rating (FSR) of A++ (Superior), which previously was A+ (Superior). Its Long-Term Issuer Credit Ratings ... Read the full article
Underwriting expenses remain stable as premiums increase: AM Best
3rd January 2023
According to a new report from AM Best, increases in US P&C insurers' underwriting expenses have been offset by commensurate increases in net premiums written, which has resulted in stable expense ratios over the past decade. The report notes that over the past decade, US P&C insurers have found controlling underwriting expenses ... Read the full article
US insurers’ structured securities holdings rise continues amid uncertainty: AM Best
28th December 2022
According to AM Best, insurers continued to follow a years-long trend by increasing their structured securities investments in 2021, with 3% growth YoY to $1.14 trillion, though indications portray an uncertain picture for 2022 as issuances have dropped significantly. AM Best notes that despite the overall increase in holdings, insurers’ allocations ... Read the full article
US life and annuity market sees income boosted by 4.1% in 2022
22nd December 2022
A new note from AM Best says that total income in the US life and annuity market rose 4.1% during the first nine months of the year. This was driven, wrote the firm, by a 7% increase in premiums and annuity considerations along with a 2.6% increase in net investment income. Over ... Read the full article
AM Best upgrades Covéa ratings following PartnerRe acquisition
22nd December 2022
AM Best has upgraded the financial strength rating of Covéa Coopérations to A+ (superior) from A (excellent), and its long-term issuer credit rating to “aa-” (superior) from “a+” (excellent), while removing its status of under review with positive implications. According to the rating agency, the ratings reflect Covéa’s balance sheet strength, ... Read the full article
Long-term relief coming for Florida insurance market – AM Best
21st December 2022
A new report from AM Best says that the recent insurance market reforms in Florida mean that long-term relief is drawing nearer, but the state remains buffeted by near-term headwinds. The note follows recent reforms in the state, which Reinsurance News has written on in recent days. Now, AM Best ... Read the full article
AM Best turns positive on AIG, noting “steady improving trend”
19th December 2022
AM Best has revised the outlook to positive from stable and affirmed the Long-Term Issuer Credit Ratings of “bbb” (Good) of AIG, and has revised the outlooks to positive from stable for the Long-Term ICRs and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of ... Read the full article
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