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.
Ransomware a growing concern for re/insurers, says Fitch
18th October 2021
As part of a new report on cybersecurity risks, analysts at Fitch Ratings have noted that ransomware in particular is becoming a “growing concern” for the re/insurance industry. The rating agency said cybersecurity is arguably reaching an “acute phase,” following high-profile events at several of the largest and most sophisticated insurance ... Read the full article
European insurers to increase ESG investments on Solvency II reform
27th September 2021
The European insurance sector’s growing interest in assets with environmental, social and governance (ESG) characteristics is likely to get a further boost from the European Commission’s proposal to lower Solvency II (S2) capital charges for longer-term business, Fitch Ratings says. Fitch's report showed that insurers are well-placed to invest in longer-term ... Read the full article
Earnings for US P&C insurers materially improved in H1: Fitch
22nd September 2021
According to a new report from Fitch Ratings, statutory earnings for U.S. property/casualty (P&C) insurers materially improved in the first half of this year, with better underwriting performance tied to higher commercial lines pricing and diminishing effects of pandemic-related losses, as well as outsized investment gains. Fitch noted that the industry ... Read the full article
Statutory earnings for US P/C insurers materially improved in 1H21, says Fitch
17th September 2021
Statutory earnings for US property/casualty (P/C) insurers materially improved in 1H21, says Fitch Ratings analysts, with better underwriting performance tied to higher commercial lines pricing and diminishing effects of pandemic-related losses, as well as outsized investment gains. The industry is reported to be better positioned for full-year results and will ... Read the full article
Reinsurance demand in LatAm to increase despite lower cat losses: Fitch
10th September 2021
The demand for reinsurance in Latin America (LatAm) is expected to increase during the second half of this year due to heightened uncertainty linked to COVID-19, according to a report by Fitch Ratings. The expected increase is also due to numerous high-impact weather events and primary insurers’ stronger ability to purchase ... Read the full article
Life insurers operating income rises by 65% in H1: Fitch Ratings
8th September 2021
According to a new report from Fitch Ratings, pretax operating income rose approximately 65% on an aggregate basis in the first half of 2021 compared the first half of last year. The increase reflects strong net investment income driven by alternatives, improved mortality experience, and higher account values from strong equity ... Read the full article
Fitch sees reinsurance sector outlook improving in 2022
7th September 2021
Analysts at Fitch Ratings are forecasting significant improvements in reinsurers’ financial performances next year due to higher prices in a hardening market, a strong rebound in economic activity and lower pandemic-related losses. The rating agency says these positive factors should outweigh the negative effects of declining investment returns, increasing natural catastrophe ... Read the full article
Ida not a capital event for Louisiana re/insurers: Fitch
31st August 2021
While Hurricane Ida is expected to generate significant economic and insured losses in Louisiana, it is likely to be an earnings event, rather than a capital event, for the re/insurance industry, according to Fitch Ratings. Fitch does not expect Ida to trigger ratings downgrades for individual P&C re/insurers operating in Louisiana, ... Read the full article
Natcat protection gap totals around $60 billion in Asia: Fitch Ratings
26th August 2021
According to analysts at Fitch ratings, the Swiss Re Institute has estimated the protection gap between economic losses brought about by natural catastrophes and insured losses totalled around $60 billion in Asia. This points to many businesses and households that could be financially devastated by natural disasters. The global insurer believes that ... Read the full article
Improved underwriting results to continue for reinsurers, says Fitch
23rd August 2021
Global non-life reinsurers are poised to report improved underwriting results for 2022 as rate increases start to have an effect, with further rises supported by elevated catastrophe losses, still low interest rates and ongoing inflation concerns, according to Fitch Ratings. For the global reinsurance companies in Fitch's universe, net premiums written ... Read the full article
APAC reinsurers to continue targeting ILS: Fitch
20th August 2021
Analysts at Fitch Ratings expect that reinsurers in the Asia Pacific market will continue to adopt alternative capital as a funding source through the insurance-linked securities (ILS) market. The rating agency forecasts additional issuance of catastrophe bonds in the coming months after the seven that were issued using Singapore-domiciled vehicles up ... Read the full article
Europe’s major reinsurers in good shape after a more profitable H1: Fitch
16th August 2021
Favourable price movements for property and casualty (P&C) business and elevated demand for cover saw Europe's largest reinsurance companies substantially grow their premiums through the first half of 2021, while underwriting margins improved on the prior year period. As noted by Fitch in its recent note on European reinsurers during H1 ... Read the full article
Henan floods to further suppress Chinese insurers’ underwriting: Fitch
27th July 2021
According to Fitch Ratings, the insurance losses from severe floods in Henan province will further suppress the underwriting margin of Chinese non-life insurers in 2021. This will add to most motor insurers’ deterioration in claims after the implementation of comprehensive motor insurance pricing reform in September 2020. The rating agency expects insurance ... Read the full article
2021 one of the worst years this century for Germany’s nat cat claims: Fitch
19th July 2021
Factoring in typical levels of hailstorm activity this summer and expected winter storm-related claims, Fitch Ratings says 2021 could be one of the worst years for German so far this century in terms of natural catastrophe claims. Furthermore, Fitch Ratings estimates that the severe floods in Germany could add up to ... Read the full article
Olympics crowd ban could cost reinsurers up to $400m: Fitch
12th July 2021
Japan’s decision to bar spectators from the Tokyo Olympics is likely to cost the global reinsurance sector between $300 million and $400 million due to payouts for ticket and hospitality refunds, according to Fitch Ratings. However, the rating agency notes that this total is only 10%–15% of the amount reinsurers would ... Read the full article
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