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.
Global reinsurers maintain strong financial standing despite challenges: Fitch
30th November 2023
In Fitch Ratings' latest peer review for large global reinsurers in November 2023, the industry has demonstrated resilience with a consistent strong to very strong capitalisation. The assessment, based on Fitch's risk-based Prism Factor-Based Capital Model, indicates that the capital adequacy of all reinsurers in the peer group remained robust as ... Read the full article
Reinsurance rate increases for property cat to slow in 2024: Fitch
23rd November 2023
As per a new report from Fitch Ratings, reinsurance rate increases for property catastrophe business are likely to slow to below 10% on average when contracts are renewed in January 2024, though underlying profitability for the sector is still expected to improve throughout the year. "Price increases, and better terms and ... Read the full article
Fitch turns positive on Swiss Re following strongly improved financial performance
22nd November 2023
Global ratings agency Fitch has revised reinsurance giant Swiss Re's outlook to positive from stable, reflecting the firm's "strongly improved financial performance and better capitalisation and leverage." Alongside the revision to positive, Fitch has affirmed Swiss Re's Insurer Financial Strength (IFS) Rating at 'A+' (Strong) and Long-Term Issuer Default Rating (IDR) ... Read the full article
European reinsurers see 9M’23 nat cat claims fall on improved T&Cs: Fitch
20th November 2023
The four large European reinsurers, Munich Re, Swiss Re, Hannover Re, and SCOR, all reported claims from natural catastrophes below budget in the first nine months of 2023 on the back of improved terms and conditions, while higher investment returns also supported earnings in the period, according to Fitch Ratings. Higher ... Read the full article
European insurers face increased weather-related losses amid reinsurance cutbacks: Fitch
17th November 2023
Fitch Ratings highlights the growing vulnerability of European insurers to weather-related losses, primarily attributed to reinsurers reducing coverage against medium-sized natural catastrophe risks. The trend, which commenced in 2022, is exemplified by results from the Italian non-life market, demonstrating a notable impact on profitability following reinsurance cutbacks. Global reinsurers have responded to ... Read the full article
Fitch affirms SCOR’s ratings citing greatly improved earnings
15th November 2023
Fitch Ratings has affirmed SCOR's and its core operating subsidiaries' Insurer Financial Strength (IFS) Ratings at 'A+' and Long-Term Issuer Default Rating (IDR) at 'A', with Stable Outlooks. Fitch noted that the affirmation reflects SCOR's improving earnings, well-designed strategic plan, and 'Favourable' business profile compared with that of all other reinsurance ... Read the full article
Fitch affirms National IFS of 7 Sri Lankan insurers
19th October 2023
Fitch Ratings has affirmed the National Insurer Financial Strength (IFS) Ratings of seven Sri Lankan insurers, removed them from Rating Watch Negative (RWN), and assigned them a stable outlook. This rating move includes Sri Lanka Insurance Corporation Limited (SLIC), at 'A(lka)'; Continental Insurance Lanka Limited, at 'A-(lka)'; HNB Assurance PLC, at ... Read the full article
Dutch insurers deliver solid results in a stabilising operating environment: Fitch
19th October 2023
Large Dutch insurers have achieved solid results in the first half of 2023; they have managed to compensate the effect of high inflation in core insurance lines through price increases and achieved broadly stable underwriting results, Fitch Ratings reports. The inflation rate in the Netherlands peaked in the second half of ... Read the full article
Private credit investments shape US life insurer strategies: Fitch
17th October 2023
In a recent analysis by Fitch Ratings, private credit investments have emerged as crucial components of the business models and investment strategies of rated US life insurers. While concerns about asset quality in the private credit sector have been raised, Fitch does not anticipate widespread rating pressures for these insurers, primarily ... Read the full article
Fitch has upgraded Oman Re’s IFS rating to ‘BBB-‘
12th October 2023
Fitch Ratings has upgraded Oman Reinsurance Company SAOG's (Oman Re) Insurer Financial Strength (IFS) rating to 'BBB-' from 'BB+, and assigned it an stable outlook. According to the announcement, this rating decision continues to reflect Oman Re's exposure to investment risk via its asset concentration in the Omani banking system. It also ... Read the full article
ICS likely to be the most regulatory development for global insurers in 2024: Fitch
6th October 2023
According to Fitch Ratings, the finalisation of the Insurance Capital Standard (ICS), a new global solvency standard for internationally active insurance groups, is likely to be the most significant regulatory development for global insurers in 2024. The agency explained that a public consultation on the ICS as a prescribed capital requirement ... Read the full article
US life insurers not at risk from commercial real estate exposure: Fitch
5th October 2023
US Life Insurers to withstand commercial real estate deterioration (CRE) exposure thanks to their stable investment portfolios, which include high-quality, diversified exposures, conservative underwriting, strong liquidity and effective asset-liability management (ALM), according to Fitch Ratings. Therefore, analysts expect CRE losses to remain within ratings sensitivities, given the strength of diversified portfolios, ... Read the full article
EU and UK Solvency II reviews to proceed amid shifting economic landscape: Fitch
22nd September 2023
In a rapidly changing economic environment, Fitch Ratings predicts that the multi-year reviews of the Solvency II (S2) regimes in the European Union and the United Kingdom will continue as planned, with both reviews expected to conclude in 2024. These reviews, initiated in 2020 and 2021, aim to adapt insurance regulations ... Read the full article
Fitch upgrades Generali’s ratings citing “resilient operating performance”
19th September 2023
Fitch Ratings has upgraded Generali’s Insurer Financial Strength (IFS) rating to “A+” from “A” with a stable outlook, and has also upped the firm's Long-Term Issuer Default Rating (IDR) to 'A' from 'A-'. Fitch suggested that the upgrades reflect Generali’s "very strong capitalisation and moderate financial leverage" and the "continuous improvement ... Read the full article
SCOR could return to profitability levels in the medium term with new strategic plan: Fitch
18th September 2023
French reinsurer SCOR's recently announced new strategic 2024-2026 plan is reasonably ambitious and could see the firm return to profitability levels in the medium term, according to Fitch Ratings. In early September, SCOR revealed a new plan designed to enable it to benefit from a supportive market environment and develop ... Read the full article
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