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.
Italian non-life premiums up 6% as insurers shift from motor: Fitch
8th November 2022
Non-life premiums in Italy rose by 6% during the first half of 2022, according to data from Fitch Ratings, owing to strong growth in non-motor lines. Analysts note that Italian insurers have been increasing their exposure to non-motor in recent years to offset pressure on motor profitability, which still accounts for ... Read the full article
ESG to increasingly influence insurers’ strategies, says Fitch
7th November 2022
Insurers’ underwriting and investment strategies in the coming years will be increasingly influenced by ESG considerations, suggests a report from Fitch Ratings. P&C insurer's large weather-related losses highlight the growing environmental physical risks many experts link to climate change, explains Fitch. Therefore, in response, the rating agency expects P&C re/insurers to increase ... Read the full article
Fitch revises Allstate’s rating outlook to negative
31st October 2022
Fitch Ratings has revised the Rating Outlook of US primary insurer Allstate from stable to negative. Fitch states that the outlook revision to Negative primarily reflects sharp deterioration in 9M22 underwriting results, compared to rating sensitivities, declines in statutory capital and adverse revisions to prior reserves outside of expectations. The ratings agency ... Read the full article
Fitch upgrades W.R. Berkley’s ratings
26th October 2022
Fitch Ratings has announced that it has upgraded W.R. Berkley Corporation’s property and casualty (P&C) operating subsidiaries Insurer Financial Strength ratings to ‘AA-‘ (Very Strong) from ‘A+’. At the same time, Fitch has also upgraded Berkley’s senior debt rating to ‘A-‘ from ‘BBB+’. The rating outlook is stable. Fitch stated that the ... Read the full article
Fitch ups insured loss range for Hurricane Ian to $35-55bn
17th October 2022
Analysts at Fitch Ratings have increased their estimate for re/insurance industry losses from Hurricane Ian to a range of $35 billion to $55 billion. The new range represents an increase on the estimate of $25 billion to $40 billion previously released by Fitch, although the earlier figures did apply to ... Read the full article
No ratings impact on life insurers’ following UK outlook revision: Fitch
10th October 2022
According to Fitch Ratings, the recent revision of the UK’s outlook to negative has no immediate impact on UK life insurers’ ratings. Fitch expects the sector’s strong business profile and capital headroom to continue to underpin ratings in the hypothetical scenario of the UK sovereign rating being downgraded by one notch ... Read the full article
Dutch insurance sector resilient over first half of the year: Fitch Ratings
10th October 2022
A new report from Fitch Ratings says that the Dutch insurance sector showed resilience in 1H22 despite mounting macroeconomic pressures. The firm wrote in the Dutch Insurance Dashboard: 1H22 Interim Results that large Dutch insurers maintained robust solvency II ratios in 1H22 and broadly in line with a ‘aa’ assessment according ... Read the full article
LDI fallout may trigger the uptake of pension risk transfer, says Fitch
7th October 2022
Fitch Ratings has said that the need for pension funds to put up large amounts of extra collateral due to tumbling gilt prices will lead more UK defined-benefit pension funds to favour pension risk transfer deals with life insurers over liability-driven investment (LDI) arrangements with asset managers. In its report, Fitch ... Read the full article
Public finance issuer ratings to remain stable following Ian: Fitch
4th October 2022
According to a new report from Fitch Ratings, the ratings of US public finance issuers affected by Hurricane Ian will largely remain stable, but the credit quality of some issuers with lesser resources and financial flexibility could weaken. While the full extent of property damage in Florida, Georgia and the Carolinas ... Read the full article
Fitch estimates losses of up to $40bn from Hurricane Ian
30th September 2022
Hurricane Ian, which hit Florida in recent days, is unlikely to affect credit for rated P&C (re)insurers because of ample capital levels and the ability to increase premium rates, said Fitch Ratings. However, the company said that Florida insurance specialists that are unrated by Fitch have suffered financial losses and diminished ... Read the full article
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
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