Reinsurance News
Fitch Ratings news
News featuring rating agency Fitch Ratings, including the latest reports, rating actions and analysis from the company, as well as news on Fitch’s analysis of the reinsurance sector.
Fitch expects Saudi insurer profitability to remain strong
19th February 2024
Fitch Ratings predicts that the Saudi Arabian insurance market will strengthen in 2024 and 2025 due to new regulations aligned with the '2030 Saudi Vision'. These regulations mandate higher minimum capital requirements, prompting insurance companies to raise funds or merge with other companies, which has been happening since 2021. In November ... Read the full article
Investors have mixed views on how UK S2 reforms may impact insurer credit quality: Fitch
12th February 2024
Investors appear to have mixed views on the impact of post-Brexit Solvency II (S2) reforms on UK insurers’ credit quality, according to Fitch Ratings. At a recent Insurance Insights event in London, that was attended by investors, issuers, as well as other market participants, an audience poll showed that 30% thought ... Read the full article
Fitch forecasts challenging times for German non-life insurance sector
8th February 2024
According to Fitch Ratings, the German non-life insurance sector is set to grapple with a net combined ratio of 99% for both 2023 and 2024, marking the highest figures since the tumultuous loss years of 2013 and 2002. The forecast primarily attributes this predicament to mounting claims inflation and substantial reinsurance ... Read the full article
North American insurers expected to balance growth opportunities: Fitch
2nd February 2024
With recession at bay and inflation beginning to cool off, North American insurers are expected to balance growth opportunities while weathering potential impediments to growth this year, according to Fitch Ratings analysts and external panelists at the agency’s Insurance Insights 2024 North America investor forum. Fitch noted that the sector outlooks for ... Read the full article
Reinsurance capital rebounds strongly in 2023, cat bond issuance hits record high: Fitch
24th January 2024
According to Fitch Ratings, reinsurance capital is estimated to have surged by 11%, reaching approximately USD 535 billion by the end of 2023, partially offsetting the losses incurred in the previous year. The global reinsurance industry witnessed a robust recovery in capital during 2023, driven by strong earnings, financial market stabilisation, ... Read the full article
Reinsurers’ underwriting margins are “likely to peak” in 2024, says Fitch
24th January 2024
According to a new report from Fitch Ratings, reinsurers’ underwriting margins are "likely to peak in 2024" due to significant price rises and tighter terms and conditions achieved in 2023 and in early January 2024 renewals. The rating agency's report also observed that the reinsurance market conditions are likely to start ... Read the full article
UK life insurers may pass more interest to customers to avoid being “named and shamed”: Fitch
23rd January 2024
Some UK life insurers are likely to pass on more of their earned interest to customers in order to protect their reputations, a move that may oppose consumer duty rules introduced in July 2023 which keep driving changes, according to a recent report by Fitch Ratings. “We believe insurers will consider ... Read the full article
Returns will remain favourable for Bermuda reinsurers in 2024, says Fitch
22nd January 2024
Global ratings agency Fitch expects returns to remain favourable for Bermuda reinsurers in 2024 amid still attractive market conditions, with the underlying combined ratio anticipated to stabilise or improve slightly on the 85%-86% for 2023. According to Fitch, Bermuda reinsurers' underwriting profitability is "likely peaking at current levels," as price increases ... Read the full article
US P/C insurers brace for headwinds in 2024 amid inflation and liability challenges: Fitch
15th January 2024
In a recent report, Fitch Ratings anticipates a challenging year for the U.S. property casualty insurance (P/C) industry in 2024, marked by modest underwriting improvement following a tough 2023 with poor auto insurance results and significant catastrophe losses. Persistently high inflation and a slowing economy, with GDP expected to drop from ... Read the full article
Rising premium rates boost prospects for UK and Italian non-life insurers in 2024: Fitch
12th January 2024
In the ever-evolving landscape of European non-life insurance, Fitch Ratings predicts that the United Kingdom and Italy are poised to reap the greatest benefits from the anticipated surge in premium rates throughout 2024. The non-life insurance sector across Europe is expected to enjoy the fruits of higher premiums, alleviated claims inflation, ... Read the full article
Japan quake to have “no major impact” on non-life insurers’ earnings: Fitch
10th January 2024
Fitch Ratings has disclosed that insured losses from the earthquake that struck the Ishikawa prefecture on the Noto Peninsula, Japan, on 1 January 2024 are "likely to be small", with "no major impact" on Japanese non-life insurers’ earnings. Writing in a report on the matter, Fitch said that underwriting risks from ... Read the full article
UK life sector outlook set apart due to growth in pension risk transfers: Fitch
4th January 2024
The UK life insurance sector is the only life sector in Europe with an improving outlook for 2024, which is largely due to the prospect of strong profitable growth in pension risk transfers, says Fitch Ratings. The agency highlighted how higher interest rates have boosted pension scheme funding levels, ultimately making ... Read the full article
Fitch downgrades Athene on plan to re-domesticate away from Bermuda
28th December 2023
Fitch Ratings has downgraded the Long-Term rating assigned to Athene Holding Ltd.'s outstanding Series A, B, C, D and E preferred share issuances to BBB-, citing the firm's announcement that its board of directors have approved preliminary steps to re-domesticate from Bermuda to the state of Delaware. According to Fitch, the ... Read the full article
Italian non-life outlook improving, life remains neutral: Fitch
12th December 2023
According to Fitch Ratings, the outlook for Italian insurance is improving for non-life compared with 2023 actuals, while life remains neutral. Fitch's non-life sector is improving due to the expectation that widespread tariff increases to more than offset persistent high inflation-related claims costs, with motor claims frequency also expected to remain ... Read the full article
Latin American insurance sector faces challenges amidst slower premium growth in 2024: Fitch
12th December 2023
Fitch Ratings has outlined a neutral outlook for the Latin American insurance markets in 2024, citing stable operating conditions and economic growth. Despite positive premium growth projections, the sector is expected to experience a more moderate pace due to increased competition and the normalisation of claims pressure stemming from receding inflation ... Read the full article
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