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.
Spanish non-life sector maintains growth & profitability: Fitch
29th November 2019
The Spanish non-life insurance sector has expanded for the fifth year in a row, with strong profitability maintained and many opportunities for further growth, according to analysts at Fitch Ratings. In 2018, Spanish non-life premiums increased by 4% with positive contributions from most lines. Fitch expects the Spanish non-life insurance sector to ... Read the full article
Fitch revises London market outlook to stable, cites pricing & Lloyd’s
27th November 2019
Fitch Ratings has revised its 2020 outlook for the London market to stable from negative amid the improved pricing landscape and the market-wide profitability review initiated by Lloyd's of London. Overall, there is an improved pricing environment in the London marketplace, which Fitch expects to result in better underwriting results going ... Read the full article
P&C pricing momentum unlikely to result in hard market, says Fitch
14th November 2019
While favourable pricing trends in the US property and casualty (P&C) market have been gaining some momentum this year, analysts at Fitch Ratings do not believe these increases are likely to cause a return to hard market conditions. Competitive forces and less favourable claims trends in some key segments make it ... Read the full article
Quantum computing a potential cyber risk for re/insurers: Fitch
12th November 2019
The day when quantum computing power can be applied to real world scenarios is fast approaching, posing a number of important questions around the parameters of cyber risk and security of data encryption. Fitch Ratings analysts note how quantum computers - estimated to run 100 million times faster than current technology ... Read the full article
Improved reinsurance market conditions may fade, warns Fitch
25th October 2019
Analysts at Fitch Ratings have warned Bermudian reinsurers that improved reinsurance market conditions and the subsequent positive influence on underwriting results may not last. After a more meaningful shift in pricing at the latest renewals season following disappointing rate movements through 2018 and into early 2019, on the back of consecutive ... Read the full article
Fitch removes Sirius ratings from negative watch
22nd October 2019
Fitch Ratings has removed Sirius International Group Ltd.’s ratings from Rating Watch Negative and assigned them a stable outlook. The rating agency also affirmed the BBB' Long-Term Issuer Default Rating (IDR), 'BBB-' senior debt rating and 'A-' (Strong) Insurer Financial Strength (IFS) rating of Sirius's operating subsidiaries. Sirius’s ratings were placed ... Read the full article
Bermuda re/insurers set to improve earnings in 2019: Fitch
22nd October 2019
Bermuda re/insurers saw moderate net income improvement in 2018 despite heightened catastrophe losses, and look set to boost earnings further this year, according to analysts at Fitch Ratings. The sector returned to underwriting profits last year with a combined ratio of 99% recorded for the 22 companies in Fitch’s sample. This was ... Read the full article
London market underwriting to remain under pressure through 2019: Fitch
14th October 2019
Analysts at Fitch Ratings anticipate that underwriting earnings are like to remain under pressure for London market re/insurers through the remainder of 2019. While improved pricing conditions are starting to benefit results, earnings are currently being offset by high expense ratios and lower scope for reserve releases, the rating agency said. London ... Read the full article
FCA measures could hit UK motor & home insurers’ profits: Fitch
9th October 2019
New measures proposed by the Financial Conduct Authority (FCA) following a report on competition in the UK motor and home insurance markets could impact profits in 2020, according to analysts at Fitch Ratings. Last week, the UK regulator raised concerns that competition was not working well for all consumers, estimating ... Read the full article
E&S premium growth up 15% as underwriting weakens: Fitch
7th October 2019
Direct written premiums in the US excess and surplus (E&S) lines market grew at a rate of 15% during the first half of 2019, a rate nearly double the overall property and casualty (P&C) market’s growth, according to analysts at Fitch Ratings. This compares with 2018, when premium growth of 11% ... Read the full article
D&O rates improve as carriers push to restore profitability: Fitch
30th September 2019
Premium pricing has improved significantly for directors and officers (D&O) liability in 2019 as carriers work to restore profitability, according to analysts at Fitch Ratings. Fitch noted that D&O liability business has seen several years of weaker performance, driven by flat premium growth and less favourable claims trends in a shifting ... Read the full article
AXA XL overtakes AIG as top D&O insurer: Fitch
26th September 2019
AXA XL has taken over from AIG as the leading directors and officers (D&O) insurer, now commanding a 15% market share, according to analysts at Fitch Ratings. Fitch noted that perennial market leader AIG has conceded significant market share over the last several years in an effort to reposition its book ... Read the full article
U.S. commercial auto sector set for another year of underwriting losses: Fitch
16th September 2019
The U.S. commercial auto sector is set to produce an underwriting loss for the ninth consecutive year in 2019, as market challenges continue to offset repeated underwriting and pricing actions, reports Fitch Ratings. The commercial automobile insurance space continues to drive substantial losses for U.S. property/casualty (P/C) insurers, recording a statutory ... Read the full article
Lloyd’s performance pressured, but corrective underwriting actions will help: Fitch
9th September 2019
The Lloyd’s of London insurance and reinsurance market remains under pressure as its underwriting performance has not lived up to expectations, but Fitch Ratings believes corrective actions taken will help. Speaking with Reinsurance News, Director of Insurance at Fitch Ratings Chris Grimes explained why the rating agency maintains a negative outlook ... Read the full article
Smaller reinsurers most vulnerable to takeover: Grimes, Fitch Ratings
6th September 2019
It is the smaller reinsurance firms that cannot take advantage of current market conditions and rate firming which are the most vulnerable to takeover right now, according to Chris Grimes of Fitch Ratings. Grimes, Director of Insurance at the rating agency, explained to us in an interview that despite the improved ... Read the full article
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