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 Revises MSI outlook to negative, affirms at IFS ‘A+’
11th May 2020
Fitch Ratings has revised the outlook on Mitsui Sumitomo Insurance Company's Insurer Financial Strength (IFS) Rating and Issuer Default Rating (IDR) to negative from stable. Fitch has affirmed MSI's IFS Rating at 'A+' (Strong) and its IDR at 'A'. Fitch has also affirmed the rating on MSI's US dollar subordinated debt ... Read the full article
Cyber market to face COVID-19 challenges: Fitch
11th May 2020
Economic fallout caused by the coronavirus (COVID-19) pandemic will likely test recent premium revenue trends and claims experience in the US cyber insurance market, according to Fitch Ratings. Analysts noted that cyber insurance continues to be a small but profitable market, representing a modest portion of premium risk for individual p/c ... Read the full article
COVID-19 risk sees Fitch turn negative on AIG Life and holding company
6th May 2020
Fitch Ratings has revised the rating outlook to negative from stable for AIG Life and the holding company, citing the economic fallout and financial market stress being caused by the ongoing COVID-19 outbreak. At the same time, global financial services ratings agency Fitch has maintained its stable outlook on AIG's P&C ... Read the full article
Rating agencies downgrade AXIS, company responds
6th May 2020
Global financial services ratings agencies have taken actions against AXIS Capital and its subsidiaries, citing the economic impact of the coronavirus (COVID-19) pandemic and a deteriorating operating performance. Specifically, Fitch Ratings has revised its outlook for AXIS from stable to negative, citing the economic impact of the pandemic. At the same time, ... Read the full article
Fitch maintains PartnerRe on Positive Watch after COVID-19 review
27th April 2020
Fitch Ratings has maintained PartnerRe’s ratings on Rating Watch Positive, including its 'A-' Issuer Default Rating and the 'A+' (Strong) Insurer Financial Strength rating of the company's principal reinsurance operating subsidiary. Fitch’s ratings are based on its current assessment on the impact of the coronavirus pandemic, including its economic impact, under ... Read the full article
COVID-19 premium adjustments not expected to hit long-term profits: Fitch
16th April 2020
Fitch Ratings does not expect recent premium adjustments announced by property/casualty insurers in response to the impacts of the COVID-19 pandemic to affect long-term market profits or individual company ratings. Driven by unanticipated declines in risk exposures and claims incidence following the economic impact caused by the ongoing coronavirus pandemic, some ... Read the full article
Improved profit expectations declining for P/C insurers, says Fitch
9th April 2020
Fitch Ratings has said that the meaningful performance disruption facing U.S. property/casualty (P/C) insurers in 2020 has dampened its expectations for additional profit improvement in the year. After consecutive years of consistent underwriting profitability, the P/C insurance sector in the U.S. started 2020 with record levels of capital and some positive ... Read the full article
Fitch to review all rated re/insurers for COVID-19 exposure
8th April 2020
Fitch Ratings plans to review the international ratings of all of the insurance firms in its coverage over the next four to five weeks as a result of the risks and uncertainties related to the global COVID-19 coronavirus pandemic. Originally, Fitch announced its coronavirus-related reviews in a number of commentaries published ... Read the full article
Fitch puts Lloyd’s on Rating Watch Negative amid COVID-19 risks
2nd April 2020
Uncertainty and heightened risk to Lloyd's of London's earnings and underwriting performance as a result of COVID-19 claims, has pushed Fitch Ratings to place the marketplace and its operating entities on Rating Watch Negative (RWN). Fitch states that it has placed Lloyd's of London's, Lloyd's Insurance Company S.A. and Lloyd's Insurance ... Read the full article
Coface placed on Rating Watch Negative by Fitch
1st April 2020
Global financial services ratings agency, Fitch Ratings, has placed Coface on Rating Watch Negative amid expectations that the trade credit insurance industry will be negatively impacted by the ongoing COVID-19 coronavirus pandemic. According to Fitch, the impacts and uncertainty being created by the virus outbreak means that it is now more ... Read the full article
Coronavirus to weigh against P&C improvements: Fitch
31st March 2020
North American property and casualty (P&C) insurers reported improved operating results in 2019, but near-term performance will likely be more challenging due to the onset of coronavirus (COVID-19) and the resulting economic impact, according to Fitch Ratings. The rating agency has maintained its stable outlook on the US P&C insurance and ... Read the full article
European life insurers shifting to capital-light products: Fitch
26th March 2020
European life insurers are gradually shifting away from traditional guarantees towards more capital-light products, transferring part of the investment risk to policyholders, according to analysts at Fitch Ratings. The rating agency noted that the shift is the result of the protracted low interest rate environment, which it sees as posing major ... Read the full article
Fitch revises London market outlook to negative amid COVID-19 issues
24th March 2020
Fitch Ratings has revised its sector outlook for the underlying fundamentals of the London market insurance space to negative from stable, driven by growing concerns around the impacts and disruption caused by the COVID-19 outbreak. Fitch notes that the ongoing virus outbreak threatens the credit quality of London market insurers. While ... Read the full article
Fitch turns negative on global reinsurance, US P&C fundamentals
23rd March 2020
The unfolding Coronavirus outbreak has prompted Fitch Ratings to revise its outlook for the underlying fundamentals of the global reinsurance sector to negative from stable. The ratings agency also revised its outlook for the US property and casualty insurance sector, citing concerns over coronavirus and related impacts on the credit quality ... Read the full article
Coronavirus prompts Fitch to revise European life to negative
20th March 2020
Fitch Ratings has revised its rating outlooks for the life insurance sectors in France, Germany, the Netherlands, and the UK to Negative from Stable; the Italian life insurance sector remains negative. This revision is due to increased risks stemming from the coronavirus pandemic and related impact on the credit quality of ... Read the full article
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