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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.
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
RenRe’s Fontana Re units get AM Best ratings
19th December 2022
AM Best has assigned ratings to Fontana Reinsurance and its US counterpart, two subsidiaries of the casualty and specialty venture recently launched by Bermuda reinsurer RenRe. Fontana Re has assigned a Financial Strength Rating (FSR) of A (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a+” (Excellent), and ... Read the full article
AM Best notes a reversion in negative trends for Barents Re
16th December 2022
AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Barents Re and its affiliate, Barents Re Lux. AM Best suggests that the revised outlooks reflect the reversion of the negative trend ... Read the full article
AM Best downgrades QIC and Antares Re credit ratings
16th December 2022
AM Best has downgraded the credit ratings of Qatar Insurance Company Q.S.P.C. (QIC) , and its subsidiary Antares Re. The outlook of these ratings has been revised to stable from negative. The rating agency said it was switching the Financial Strength Rating to A- (Excellent) from A (Excellent) and the Long-Term ... Read the full article
AM Best upgrades Panama’s insurance industry outlook to Stable
15th December 2022
Global rating agency AM Best has revised its market segment outlook on the Panama insurance industry to stable from negative. Best cited that this was due to the segment’s consistent technical results and improving macroeconomic environment. The report, titled, "Market Segment Outlook: Panama Insurance," noted that Panama's GDP expanded by 15% in ... Read the full article
Allianz maintains position as largest European non-life insurer
14th December 2022
New data from AM Best shows that Germany’s Allianz continues to hold on to its position as the largest European non-life insurer, based on gross premiums written for 2021. Allianz topped the rating agency’s table of the 30 largest insurers, boasting GWP of €60,273 million, up 4.3% from €57,772 million in ... Read the full article
AM Best upgrades China non-life outlook to stable
14th December 2022
AM Best has revised its market segment outlook on the China non-life insurance industry to stable from negative due to the segment’s improved underwriting performance and better growth prospects as China eases its zero-tolerance COVID-19 policy. The rating agency notes that non-life companies’ net profit increased by 20% year over year ... Read the full article
L&G launches reinsurer to target Canadian pension risk transfer
13th December 2022
The Bermuda-based reinsurance arm of Legal & General Group, Legal & General Reinsurance Company No. 2, has launched to target the Canadian pension risk transfer market and has been assigned a Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” (Excellent) by AM ... Read the full article
AM Best maintains stable outlook for US commercial lines segment
12th December 2022
In a new report from AM Best, the rating agency has stated that it has maintained its market segment outlook for the US commercial lines segment at stable. The rating agency cited factors including the segments strong underwriting performance throughout the COVID-19 pandemic and amid the ongoing economic volatility. According to the ... Read the full article
Reinsurance segment well capitalised yet deployment is cautious: AM Best
9th December 2022
Even though the global reinsurance segment remains well capitalised, market players are being cautious with the deployment of resources, according to AM Best analysts. One of the key drivers for capital growth was the increase in investment values during 2021, mainly in equities. Yet for the year-end 2022 the rating agency ... Read the full article
More insolvencies possible without immediate Florida reforms: AM Best
8th December 2022
Analysts at AM Best have warned ahead of the second special session of Florida lawmakers that further insurer insolvencies are possible if “immediate and substantive” long-term reforms aren’t realised. Governor of Florida, Ron DeSantis, has called the session in order to work with the Legislature to introduce more competition and ... Read the full article
AM Best maintains negative outlook on US Personal Lines insurance
6th December 2022
Global credit rating agency AM Best has announced it is maintaining its negative outlook on the US personal lines insurance segment for 2023. It was recently revised to negative in September 2022. According to the announcement, AM Best's decision to maintain this outlook is primarily due to significant deterioration in reported ... Read the full article
FTX collapse a “sobering warning” for insurers: AM Best
6th December 2022
The bankruptcy of cryptocurrency exchange FTX is the latest example of a corporate collapse resulting from governance failures, and carries some tough lessons for insurers, according to AM Best. Although FTX is not an insurance company, the rating agency asserts that the series of events leading to its collapse should nonetheless ... Read the full article
AM Best assigns positive outlook to DUAE market segment
6th December 2022
The global delegated underwriting authority enterprise (DUAE) segment has been assigned a positive outlook by credit rating agency AM Best. Technology, talent and diverse sources of capital continue to drive growth in this channel, the agency added. According to the announcement, the outlook reflects AM Best’s expectation that this distribution channel ... Read the full article
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