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.
Underlying profitability expected to improve for reinsurers in 2021: Fitch
21st January 2021
With rate rises across the vast majority of reinsurance lines of business poised to outpace both loss cost inflation and the challenges of the lower for longer interest rate environment, re/insurers' underlying profitability should improve in the year ahead, according to analysis by Fitch Ratings. Although described by some in the ... Read the full article
Fitch sees regulatory initiatives as positive for Brazilian insurance market
20th January 2021
Regulatory changes supported by Superintendencia de Seguros Privados (SUSEP), a Brazilian state body responsible for insurance operations, should boost competition in the country's insurance sector and lower prices for consumers, reports Fitch. Currently, of the 120 insurance carriers authorised to operate in Brazil, around 10% control some 80% of the total ... Read the full article
Ratings of UK insurers to be unaffected by BI ruling, says Fitch
18th January 2021
Fitch has said that the ratings of UK non-life insurers are likely to be unaffected by last week's Supreme Court judgement on the validity of business interruption (BI) claims related to the ongoing COVID-19 pandemic. The UK Supreme Court upheld the judgement on the Financial Conduct Authority’s (FCA) BI insurance ... Read the full article
Return on capital to improve for reinsurers but price improvements to fade: Fitch
14th January 2021
Although Fitch Ratings expects the return on capital of the reinsurance sector to improve notably in 2021, analysts warn that price improvements are likely to "gradually fade" over the next 12-18 months on the back of ample capital and an elevated risk appetite. As expected, the reinsurance market continued to firm ... Read the full article
Fitch warns of investment challenges for German life sector
24th December 2020
Fitch Ratings has warned that the German life re/insurance sector is likely to face significant investment challenges once the country emerges from the COVID-19 pandemic, which is set to prolong the ultra-low interest rates that have troubled the country since the 2008 crisis. The rating agency believes that interest rates will ... Read the full article
Fitch affirms AXIS Capital rating, outlook remains negative
10th December 2020
Fitch Ratings has affirmed the 'A+' (Strong) Insurer Financial Strength (IFS) ratings of the operating subsidiaries of Bermuda-based re/insurer AXIS Capital. The ratings agency has also affirmed AXIS’ 'A-' Issuer Default Rating (IDR), while the rating outlook is negative. Fitch says these ratings reflect the company's moderate business profile, very strong capitalization ... Read the full article
US P/C sector to improve throughout 2021: Fitch
8th December 2020
Despite ongoing losses related to the Covid-19 pandemic, Fitch Ratings says the US property/casualty (P/C) sector has stabilised with an improving outlook for 2021. Fitch Ratings analysts are anticipating higher underwriting income in 2021, with a statutory combined ratio below 97%. This would follow three consecutive years of approximately 99% combined ratios ... Read the full article
Fitch stays negative on US life
4th December 2020
Fitch Ratings has maintained its negative outlook on the US life insurance industry for 2021 due to ongoing concerns about the economic fallout from the COVID-19 pandemic. Analysts explained that the economic shock could cause deterioration in key credit metrics over the next one to two years. "Fitch's negative rating outlook for ... Read the full article
Hardening market sees Fitch turn stable on global reinsurance
3rd December 2020
The current hardening environment and rising prices, coupled with stabilising losses related to the ongoing COVID-19 pandemic, has led Fitch Ratings to revise its sector outlook for global reinsurance in 2021 to stable. After turning negative on the segment back in March, the ratings agency maintained its negative outlook for ... Read the full article
Historic cats, large pandemic losses dent NA P/C insurers in 9M20: Fitch
2nd December 2020
The high frequency of catastrophe events experienced in the U.S. through the third-quarter of 2020, coupled with a substantial level of additional losses related to the ongoing COVID-19 pandemic, hindered the performance of North American (NA) property/casualty (P/C) re/insurers in 9M 2020, reports Fitch Ratings. Fitch's analysis looks at the 9M ... Read the full article
Fitch maintains stable outlook on German non-life for 2021
27th November 2020
Fitch Ratings has held its stable outlook on the German non-life insurance market for 2021, noting an expectation for underwriting discipline to be maintained and for insurers to achieve further premium growth in commercial lines. The ratings agency forecasts premiums to grow 3% in 2020 and 2% in 2021, driven by ... Read the full article
Fitch Ratings expects fewer COVID-19 related claims
26th November 2020
A recent report from Fitch Ratings shows the rating agency is expecting Tokio Marine Holdings, MS&AD Insurance Group Holdings and SOMPO Holdings to reserve fewer COVID-19 related claims. This is due to their overseas subsidiaries tightening underwriting and narrowing policy wording in regards to any event cancellation and business interruption. Major European ... Read the full article
Pandemic related reinsurance losses fading in 9M20, Fitch suggests
16th November 2020
Fitch Ratings’ reinsurance dashboard for the first nine months of 2020 suggests pandemic-related losses have started to fade. Hannover Rueck SE, SCOR and Swiss Re all booked fewer pandemic-related claims reserves in 3Q20 than in 2Q20, as the actual loss experience did not require any major adjustments to expected claims in ... Read the full article
Turkish insurance ratings under pressure: Fitch Ratings
16th November 2020
Fitch Ratings has released a new report which shows that Turkish insurers' Financial Strength ratings are under pressure from the Negative Outlooks on the Turkish sovereign and Turkish banks' ratings. Insurers have limited exposure to lira volatility as policyholder liabilities are mostly denominated in local currency, and the sector's technical profitability ... Read the full article
P&C insurers continue to face risk management challenges: Fitch
13th November 2020
Fitch Ratings has released a report that explores how Property and Casualty (P&C) insurers are continuing to face new operational and risk management challenges, some of which include pandemic-related insurance losses and premium volume declines in 2021. The rating agency believes that insurers will be best positioned to adapt to the ... Read the full article
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