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.
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
US mortgage results back at pre-pandemic levels: Fitch
18th August 2022
New analysis from Fitch Ratings shows that US mortgage insurance underwriting results in 1H22 were particularly strong as current-year loss activity is in line with pre-pandemic periods. However, the rating agency added that results were more than offset by highly favourable reserve development, leading to a calendar-year loss ratio of negative ... Read the full article
Fitch highlights strong capital position of mutual US life insurers
16th August 2022
Fitch Ratings has given the Large and Highly Rated Mutual US Life Insurers peer group an Insurer Financial Strength (IFS) score ranging from ‘AA+ to ‘AAA’. This is driven chiefly by the mutual insurers’ capital positions. Compared with stock companies, the mutual insurers generally have a longer-term focus on sustainable returns ... Read the full article
Korean flooding losses to hamper non-life insurers’ earnings: Fitch
16th August 2022
A Fitch Ratings report has estimated insurance losses from the severe floods in South Korea will place pressure on the financial performance of the country’s non-life insurers. Industry estimates indicate that insurance claims from the flooding are likely to exceed KRW 150bn, or less than 0.2% of Korea’s entire non-life direct ... Read the full article
US life insurers’ commercial mortgages stable amid growing headwinds: Fitch
15th August 2022
A recent Fitch Ratings report has said U.S life insurers’ commercial mortgage fundamentals have largely recovered since the pandemic, with stable property outlooks for hotel, office retail, and multifamily sectors. The Federal Reserve’s monetary tightening and the current recession will pressure some sectors of commercial mortgages over the midterm, with high ... Read the full article
Inland floods pose limited credit impact to U.S. P/C (re)insurers: Fitch Ratings
12th August 2022
A Fitch Ratings report has said that the recent numerous inland flood events are expected to have a negligible credit impact on the U.S. P/C industry and are unlikely to affect individual insurers' or reinsurers' capital or earnings. Despite the tragic loss of life and significant economic losses in affected areas, ... Read the full article
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