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.
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
US midsize mutual life insurers supported by higher levels of capital: Fitch Ratings
29th June 2021
The ratings for the midsize mutual peer group have continued to be supported by higher levels of capital relative to the broader life industry, reflecting the unique characteristics of mutual ownership, according to Fitch Ratings’ latest peer review of the sector. Compared with stock companies, these mutual insurers generally have a ... Read the full article
Fitch turns positive on Enstar
25th June 2021
Fitch Ratings has affirmed Legacy specialist Enstar’s Long-Term Issuer Default Rating (IDR) at 'BBB', senior unsecured notes at 'BBB-' and preference shares at 'BB+'. The rating outlook has been revised to positive from stable, reflecting what Fitch considers to be very strong and growing capitalisation with continued reasonable financial leverage. Fitch also ... Read the full article
Colombian protests could trigger higher LatAm reinsurance rates: Fitch
15th June 2021
Analysts at Fitch Ratings have warned that Colombian insurers may face an impact to their loss ratios and overall financial performance due to social protests over the last month that have caused damage to property. Fitch expects a moderate deterioration in profitability but does not expect these events to lead to ... Read the full article
P&C insurers to increase cyber pricing in 2021: Fitch
11th June 2021
A new report by Fitch Ratings has shown that U.S. property and casualty (P&C) insurers that provide cyber insurance coverage are taking significant pricing and underwriting actions in 2021. This is in response to a spike in cyber claims with immediate improvement unlikely this year. The report showed that cyber insurance direct ... Read the full article
Fitch notes performance decline in Florida despite muted 2020 losses
10th June 2021
Analysts at Fitch Ratings have pointed to continued performance deterioration and a decline in capitalization levels amongst Florida homeowners insurance specialists. This is despite the most severe losses from the record 2020 hurricane season occurring outside of the Florida market, although they noted that losses from winter storms in Q1 2021 ... Read the full article
Hurricane-exposed cat bond issuance robust in 2021, says Fitch
9th June 2021
The demand for hurricane-exposed catastrophe bonds has continued at a steady pace for the first half of this year, say analysts at Fitch Ratings. According to the Artemis Deal Directory, so far this year sixteen catastrophe bonds have been issued or are expected to be issued under SEC rule 144A, ... Read the full article
US P&C underwriting income down 53% in Q1: Fitch
7th June 2021
A new Fitch Ratings report has highlighted a 50% fall in first quarter net income within the US property/casualty space compared to the prior year quarter. Combined ratio, meanwhile, deteriorated from 95% to 96.4%, with catastrophe losses accounting for an estimated 6.9 points. This figure is up from 3.3 points seen in ... Read the full article
US insurers braced for ‘above average’ hurricane season, reports Fitch
2nd June 2021
US property and casualty re/insurers are reportedly braced for large potential catastrophe losses as another above-average hurricane season approaches, according to a new Fitch Ratings report. Fitch notes how both P/C insurers and global reinsurers are largely well capitalised following the global pandemic last year, and generally well positioned to withstand ... Read the full article
Fitch Ratings turns positive on AXA off improving XL performance
28th May 2021
Fitch Ratings has revised its outlook on AXA and its core insurance subsidiaries' Insurer Financial Strength (IFS) Ratings, changing AXA's Long-Term Issuer Default Rating (IDR) to Positive from Stable. Fitch’s revision is driven primarily by an expectation for the AXA group to secure a property and casualty combined ratio sustainably below ... Read the full article
P&C financial leverage up on low rates and liquidity needs: Fitch
27th May 2021
Analysts at Fitch Ratings have reported that, in the aggregate, U.S. property/casualty insurers' financial leverage increased to 22.3% at year-end 2020 from 21.4% at year-end 2019. A report by the rating agency, which looked at a group of 31 companies, concluded that financial leverage is expected to increase modestly over the ... Read the full article
Fitch revises US life to negative off COVID-19 concerns
21st May 2021
Fitch Ratings has revised its rating outlook for the US life insurance industry to stable from negative, citing the economic impact of COVID-19 and its effect on credit quality . Analysts note how that, when uncertainty about the implications of the coronavirus pandemic peaked in 2020, almost 30% of ratings assigned ... Read the full article
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