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.
Fitch lowers global reinsurance and London market sector outlooks
21st April 2022
Fitch Ratings has revised down its global reinsurance and London market sector outlooks to neutral from improving, a move the ratings agency says reflects increased risks from rising claims inflation, financial market volatility, and weakening price momentum. The rating agency last updated the outlooks in 2021, and at this time, expected ... Read the full article
UK Non-Life insurers maintain strong results in 2021: Fitch Ratings
20th April 2022
Fitch Ratings has released a report monitoring UK non-life insurers, which showed reduced pandemic-related losses on business interruption and travel policies in commercial lines in 2021. The group also experienced less severe weather-related claims within their retail home lines, which overall helped to offset a deterioration in performance on insurers’ motor ... Read the full article
Fitch predicts P&C profit improvement on pricing, auto results
13th April 2022
Continued favourable commercial lines pricing and stabilization in personal auto results are expected to lead to 2022 underwriting and profit improvement for US property casualty (P&C) insurers, according to analysts at Fitch Ratings. In contrast the rating agency believes that surplus growth is likely to diminish significantly relative to the past ... Read the full article
P&C underwriting profits to improve through 2022: Fitch
7th April 2022
Analysts at Fitch Ratings believe that the property and casualty (P&C) re/insurance industry is positioned for better underwriting profits in 2022, driven by continued favourable commercial lines pricing trends and likely stabilization in personal auto business. The 2021 GAAP full-year results for a peer group of 45 North American P&C firms ... Read the full article
Reinsurance shielding Australian insurers from flood ratings impact: Fitch
30th March 2022
Recent flooding and severe storms in south-east Queensland and New South Wales will affect insurers’ earnings rather than their capital, due to the strong reinsurance program that firms have in place, according to analysts at Fitch Ratings. The rating agency says insurers’ robust earnings and capital headroom should ensure their ratings ... Read the full article
Commercial insurer profits to peak in 2023, weaken after: Fitch
29th March 2022
Analysts at Fitch Ratings believe that commercial insurance price momentum peaked last year, meaning insurer profits are likely to reach a high in 2023 and weaken thereafter. In a new report, the rating agency notes that price increases since 2017 helped regain healthy profitability in 2021, but warns that price momentum ... Read the full article
US D&O premium growth drives loss ratio improvement: Fitch
29th March 2022
According to rating agency Fitch Ratings, several years of U.S director and officers’ (D&O) insurance rapid premium growth led to a material decline in 2021’s direct loss ratios, and it is expected that it may continue in the near term. But, recent performance improvement and competitive factors are expected to temper ... Read the full article
Cyber insurance in P&C industry grew by 22% in 2020: Fitch Ratings
25th March 2022
According to rating agency Fitch Ratings the Cybersecurity and Identity Theft Insurance Coverage Supplement reported that cyber insurance direct written premiums for the property & casualty (P&C) industry grew by 22% in 2020 to over $2.7 billion. Cyber insurance continues to be viewed as a growth market for P&C insurers, as ... Read the full article
Favourable pricing driving underwriting profits for commercial P&C insurers
23rd March 2022
Fitch Ratings has said that favourable pricing is driving underwriting profits for US diversified commercial property and casualty insurers. A new note from the agency outlines how the insurers it looked at are able to demonstrate operating scale via large premium bases and substantial levels of equity capital. Diversification, said the ... Read the full article
Re/insurers could face $10bn in claims from stranded planes: Fitch
22nd March 2022
Analysts at Fitch Ratings have warned that insurers could face claims as high as $10 billion in a worst-case scenario due to the grounding of planes in Russia, with 30-40% likely to be passed on to reinsurers. More than 500 planes that are financed or owned by non-Russian lessors are stranded ... Read the full article
Hard market conditions diminishing but still sufficient: Fitch
22nd March 2022
Looking at the earnings of the major European reinsurers, analysts at Fitch Ratings have said that the hardening market conditions are diminishing but still remain strong enough to counterbalance rising risks from economic inflation and financial market volatility. Hannover Re, Munich Re, SCOR and Swiss Re all ... Read the full article
Nat cat strategies diverge amongst largest reinsurers: Fitch
18th March 2022
Analysts at Fitch Ratings have observed differing approaches to managing natural catastrophe risks among the four major European reinsurers, following positive results for the group in 2021. The rating agency notes that all four reinsurers benefitted from the favourable pricing environment in reinsurance so as to increase premium income by 10% ... Read the full article
Market Volatility: Main risk for European re/insurers from Russia – Ukraine
18th March 2022
American credit rating agency Fitch Ratings warns that the war between Ukraine and Russia is more likely to impact the European insurance sector through second-order financial market volatility, instead of through direct effects from sanctions on Russian entities and other measures that are restricting Russian businesses. European re/insurers have little direct ... Read the full article
Fitch downgrades Russian insurers
14th March 2022
Fitch Ratings has lowered its ratings on a number of Russia insurers in light of the country's invasion of Ukraine and the resulting economic sanctions. The rating agency downgraded six Russian insurance companies' Insurer Financial Strength (IFS) Ratings and the debt rating of one Russian insurer. The downgrades follow Fitch's downgrade of the ... Read the full article
CyberCube advises stress testing of portfolios with eastern European business
4th March 2022
CyberCube has released a new report saying that insurers and reinsurers should stress test their portfolios if they hold eastern European business, following the invasion of Ukraine by Russia. The company has released a new report called War in Ukraine creates fundamental shift in the cyber threat landscape that presents eight ... Read the full article
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