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.
Struggle continued for U.S. personal auto & Florida specialists in 2022: Fitch
30th March 2023
Despite substantial premium growth for North American P&C insurers overall in 2022, the struggle continued for personal auto business and Florida homeowners insurers, suggest analysts at Fitch Ratings. According to the rating agency's review of the results for 40 North American re/insurers, the aggregate group combined ratio increased by 1.4 percentage ... Read the full article
Insurers’ assured RT1’s won’t be treated as Credit Suisse’s AT1 notes: Fitch
28th March 2023
Analysts at Fitch Ratings have assured EU and UK insurers that Credit Suisse’s Additional Tier 1 (AT1) notes full write down by Swiss authorities - without imposing full losses on the bank’s equity - does not imply that the countries’ authorities will treat their Restricted Tier 1 (RT1) instruments the ... Read the full article
Europe’s big four hit by weaker underwriting & investment losses: Fitch
27th March 2023
Hannover Re, Munich Re, SCOR and Swiss Re all reported lower earnings for 2022 as high inflation, rising interest rates and climate-related costs led to lower underwriting and investment results, suggests a new report from Fitch Ratings. The rating agency notes that in 2022, attempts to raise prices proved to be ... Read the full article
German public-sector insurer profits hit by reinsurance prices, claims inflation: Fitch
17th March 2023
According to analysts at Fitch Ratings, German public-sector insurers’ non-life underwriting profitability is likely to weaken in 2023, which will be driven by higher reinsurance prices and claims inflation. Fitch noted that it forecasts a net combined ratio of 98% for 2022 and 99% for 2023, compared with a five-year average ... Read the full article
US insurers’ direct exposures to SVB & other bank failures modest, says Fitch
16th March 2023
Fitch Ratings has reported that the initial analysis of rated U.S. insurers’ exposures to now-failed banks (Silicon Valley Bank, Silvergate and Signature Bank) are modest. Fitch-rated insurance entities’ direct investment exposure to the failed banks is estimated to total $1.16 billion, with most of the exposure concentrated among life insurers. Although increased ... Read the full article
Cyber ILS deals a “stepping stone” to market acceptance: Fitch
3rd February 2023
Analysts at Fitch Ratings have said that the two recent public announcements of cyber risk transference by re/insurers to the capital markets through insurance-linked securities (ILS) issuances represent the potential for a broader reinsurance source for the risk. While development of the cyber risk transfer market requires further maturation of the ... Read the full article
New EU cyber legislation directionally positive, neutral to credit ratings: Fitch
2nd February 2023
As new cybersecurity rules have recently come into force in the European Union, Fitch Ratings stated that, while they are directionally positive, enhancing cybersecurity postures from compliance with regulations is neutral to credit ratings. These rules include the NIS2 Directive, which replaces its 2016 predecessor NIS; the Resilience of Critical Entities ... Read the full article
Rising claims & reinsurance costs set to erode the French non-life insurance sector: Fitch
1st February 2023
According to Fitch Ratings, rising claims and reinsurance costs due to persistent high inflation and climate change will erode underwriting margins in the French non-life insurance sector, most particularly within retail P&C where pricing dynamics are less favourable than in commercial P&C. Both government intervention and legislative changes also remain major ... Read the full article
Reinsurers’ underwriting margins expected to improve in 2023, says Fitch
10th January 2023
Fitch Ratings has released a report suggesting that reinsurers' underwriting margins after retrocession will expand by 4 percentage points on average in 2023. The rating agency noted that the global reinsurance industry reached a tipping point during the January 2023 renewals, as their bargaining power with regard to their cedents moved ... Read the full article
Market deviations reflect inflationary challenges for non-life sector: Fitch
10th January 2023
While the global outlook for the non-life insurance sector remains neutral, this classification belies the significant challenges faced by many developed markets as they feel the impacts of inflationary pressures, according to Fitch Ratings. The rating agency noted that these impacts will vary considerably by region and market, and even by ... Read the full article
US life insurer investment portfolios to withstand market volatility: Fitch
5th January 2023
Analysts at Fitch Ratings have stated that rising rates have been largely favourable for US life insurer investment portfolios, driving higher investment income as reinvestment rates exceed book yields. The rising rates have played a large role in helping to mitigate macroeconomic headwinds, market volatility and the heightened probability of mild ... Read the full article
US mortgage insurers hampered by inflation & slowing home prices: Fitch
28th December 2022
Fitch Ratings suggests its outlook for the US mortgage insurance sector is deteriorating due to expectations for a slowing economy in 2023, with an increase in unemployment and potential pricing corrections in the housing market. In its sector outlook, Fitch also considers the forecast of a mild recession, which is expected ... Read the full article
Mixed profitability for US specialty insurers: Fitch
22nd December 2022
A new note from Fitch Ratings says that the US specialty insurers it examines have produced mixed results in terms of profitability for this month. The firm said it had looked at Factory Mutual Insurance Company (FM Global), Associated Electric & Gas Insurance Service (AEGIS), Attorney’s Liability Assurance Society, The Doctors ... Read the full article
Large global reinsurers’ capitalisation remains strong as earnings recover: Fitch
21st December 2022
In its December review, Fitch Ratings has suggested that the large global reinsurers peer group's capitalisation remains strong and that earnings have recovered. Insurers in this peer group include Hannover Re, Lloyd's, Munich Re, PartnerRe, SCOR, and Swiss Re. According to the rating agency, capital adequacy of all global reinsurers in the ... Read the full article
Canadian life insurers ratings driven by diversified business profile: Fitch
16th December 2022
The ratings of Canada’s life insurers are currently being driven by a highly diversified business profile and geographic diversification, according to a recent peer review by Fitch Ratings. The largest Canadian life insurers represent more than two-thirds of their domestic market. Considering their operating scale, earnings diversification, brand recognition and distribution ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
