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.
Security budget cuts may escalate cyber risk, warns Fitch
30th September 2022
Fitch Ratings has warned of a potential increase in cyber risk as corporate and infrastructure cybersecurity budgets across the US come under increasing pressure due to poor revenue outlooks. Analysts note that cybersecurity spending is often viewed as an added cost rather than an essential business expense, with ROI metrics difficult ... Read the full article
European Life Consolidation activity improves after slow start to 2022: Fitch
21st September 2022
According to a report by Fitch Ratings, European life consolidation activity picked up following a slow start to 2022 with four acquisitions announced within less than two months. Of the deals announced, two were in Germany, with one each in the UK and Netherlands. This brings the year-to-date volume by liabilities ... Read the full article
D&O insurance results improve, though premium growth stalls: Fitch
20th September 2022
According to Fitch Ratings, the U.S. Directors & Officers (D&O) insurance results in the first half of 2022 have improved, though premium growth has stalled. The D&O insurance line has experienced some of the most pronounced pricing increases over the last three years among all commercial lines, with shifts in underwriting ... Read the full article
Fitch analysts view Russia-Ukraine war as a “contained risk”
11th September 2022
The full extent of insurance and reinsurance losses stemming from the conflict between Russia and Ukraine remains a murky subject with many unknown factors, but analysts at Fitch Ratings are confident that the war will prove to be a “contained risk” for the market. Speaking during a recent Global Reinsurance Briefing ... Read the full article
European insurance sector outlooks at risk from inflation, rising rates: Fitch
9th September 2022
According to Fitch Ratings, several European insurance sector outlooks could move to ‘deteriorating’ if high inflation persists and interest rate rises become more significant. In a recent study, Fitch analysed the potential impact of an economic scenario with mid-to-high single-digit inflation throughout 2023 and 10-year interest rates increasing by a combined ... Read the full article
Climate change stimulates cat bond development in Asia: Fitch
9th September 2022
Analysts at Fitch Ratings have suggested the catastrophe bond market will continue to develop given a rise in catastrophic events amid climate change. The demand for bonds issued via private placement by ILS is rising, suggests Fitch, with regular capital infusions to the reinsurance sector and ISLs in Hong Kong. Peak Re ... Read the full article
Global reinsurance sector outlook remains neutral amid economic slowdown: Fitch
8th September 2022
Fitch Ratings has maintained its global reinsurance sector outlook at neutral and expects underlying profitability to remain broadly stable in 2022 and 2023. Demand for most reinsurance business should be relatively unaffected by the economic slowdown, says Fitch, noting that price increases and higher reinvestment yields should largely offset the impact ... Read the full article
Asian reinsurers to focus on discipline and price amid inflation & climate change: Fitch
5th September 2022
In Asia, persistent inflation is a threat to the profitability of the reinsurance market and is happening at a time of elevated weather-related losses for carriers, a trend Fitch warns could accelerate as a result of the changing climate. Analysts at ratings agency Fitch believe that prolonged high inflation could lift ... Read the full article
French re/insurers face unprecedented nat cat losses: Fitch
1st September 2022
French non-life insurers and reinsurers face natural catastrophe losses on an unprecedented scale this year, exacerbating the pressure on profitability from claims inflation and a worsening macro-economic environment, according to Fitch Ratings. Analysts assured that ratings are not at risk but said that the sector’s financial performance is expected to deteriorate ... Read the full article
Fitch notes marginal improvement in operating earnings for North American P&C
31st August 2022
Fitch Ratings has said that the North American property/casualty (P/C) insurance GAAP results for H1 2022 showed marginal operating earnings improvement, with sharp deterioration in personal lines performance amid rising inflation and accelerating personal auto loss-cost trends that was more than offset by strong underwriting improvement across most commercial lines ... Read the full article
Reinsurance rates to increase regardless of cat activity: Fitch
26th August 2022
Analysts at Fitch Ratings have argued that reinsurance rates will continue to harden during the January 2023 renewals, even in the absence of significant catastrophe losses throughout the second half of the year. In a new report, the rating agency notes that, at $34 billion, H1 worldwide insured natural catastrophe losses ... Read the full article
Korean Insurance Capital Standard to have limited impact: Fitch Ratings
26th August 2022
Fitch Ratings has said that the implementation of the Korean Insurance Capital Standard (K-ICS) starting 2023 is likely to have a limited impact on insurers’ ratings, although the new capital regime, together with IFRS 17, will squeeze their capital buffers. The K-ICS comes into force from the beginning of next year. ... Read the full article
US personal auto insurers see sharp decline in underwriting performance: Fitch
24th August 2022
Fitch Ratings says that US personal auto insurers saw a sharp deterioration in underwriting performance for 1H22, according to mid-year segment results from public company GAAP filings, with many insurers’ combined ratio (CR) rising above 100% for the period. It said in a statement that these loss trends are likely to ... Read the full article
US Niche Insurers’ business profiles drive ratings: Fitch
23rd August 2022
According to a recent Fitch Ratings peer review, the ratings of the Midsize Niche North American Life Insurers peer group are driven by their differentiated business profiles. Fitch views the Reinsurance Group of America’s (RGA) entrenched market position and long track record in the global reinsurance market favourably. RGA participates in the ... Read the full article
Arch, RenRe, and SiriusPoint well capitalised, says Fitch
18th August 2022
The re/insurers Arch, RenaissanceRe (RenRe), and SiriusPoint are well capitalised despite varying in financial performance, says a new note from Fitch Ratings. Fitch Ratings said that the combined ratios for RenaissanceRe and SiriusPoint improved in 1H22 following elevated levels over the last several years from heightened catastrophe losses and pandemic claims ... 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.
