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.
Global insurance outlook neutral, more headwinds for non-life insurers: Fitch
26th June 2023
In Fitch Ratings' global insurance mid-year outlook, Cynthia Chan, Global Head of Insurance, suggested there are more headwinds for non-life insurers where inflation and normalising claims pressure underwriting margins in some key markets. According to the rating agency, the global insurance outlook remains neutral with a continued skew towards deteriorating in ... Read the full article
European insurers able to withstand a moderate fall in CRE valuations: Fitch
19th June 2023
European insurers’ ratings are likely to be resilient to a moderate fall in commercial real estate (CRE) values, although a systemic crisis would put greater pressure on individual issuers with larger exposures, suggests a new report from analysts at Fitch Ratings. According to the rating agency, European insurers’ CRE exposures amounted ... Read the full article
Dutch pension reform set to drive growth opportunities for life insurers: Fitch
12th June 2023
Fitch Ratings has highlighted the significant growth prospects that await Dutch life insurers as a result of the country's pension reform. The reform, which was passed by senators on May 30th, mandates the transition of all occupational pension schemes in the Netherlands to defined-contribution (DC) schemes by 2028, effectively bringing an ... Read the full article
China’s insurance sector surpasses expectations says new regulatory body
2nd June 2023
The performance of China’s insurance sector was better than expected in the first three months, the new regulatory body tasked with supervising the country’s financial sector announced in its first work meeting in the middle of May. One of its first duties since its inauguration on May 18, the National Administration ... Read the full article
Europe’s big four see “better-than-expected” financial performance in Q1: Fitch
25th May 2023
Three out of the four major European reinsurers reported better technical results in Q1 of 2023 despite a high natural catastrophe charge, suggest analysts at Fitch Ratings. Fitch explains that better pricing and portfolio adjustments made up part of the improvement, however, discounting effects under IFRS 17 also led to a ... Read the full article
Fitch views RenRe’s acquisition of Validus as favourable
24th May 2023
RenaissanceRe has entered into a definitive agreement to acquire American International Group, Inc.'s (AIG) treaty reinsurance platform, which ratings agency Fitch sees as favourable for the Bermuda-based reinsurer. The acquisition includes Validus Reinsurance Ltd. and its consolidated subsidiaries, AlphaCat Managers Ltd. and the renewal rights for Talbot's assumed treaty reinsurance ... Read the full article
Mass lapse remains a threat to European life insurers: Fitch
5th May 2023
Analysts at Fitch Ratings have warned that mass lapse risk remains a threat to European life insurers, although they argue that liquidity profiles are still sufficiently strong to withstand a moderate to significant rise in lapses even in the two most exposed markets, France and Italy. Lapse risk typically applies to ... Read the full article
Swiss P&C insurers expected to maintain strong profitability in 2023/24: Fitch
26th April 2023
A new report from Fitch Ratings has highlighted how Swiss property & casualty (P&C) insurers will maintain their strong profitability throughout 2023 and 2024, due to disciplined pricing strategies that mitigate the effects of higher claims inflation. According to analysts, the non-life market - which includes health - average combined ratio ... Read the full article
Large Nordic insurers maintain strong credit profiles despite economic headwinds: Fitch
18th April 2023
According to a new report from Fitch Ratings, large Nordic insurers managed to maintain strong credit profiles throughout 2022, which was heavily supported by the resilient economic and operating environment within the Nordic region. Analysts stated that Nordic economies - defined as Denmark, Finland, Norway and Sweden in the report - ... Read the full article
Allianz, Axa and Zurich ‘successfully managed’ inflation, interest rate risk: Fitch
13th April 2023
Fitch Ratings said the three main European insurance groups – Allianz, AXA and Zurich - "successfully managed" the effects of the macroeconomic environment like high inflation and interest rates. "Allianz, AXA and Zurich successfully managed 2022’s macroeconomic challenges thanks to their very strong company profiles, rigorous risk management and sophisticated asset- ... Read the full article
UK life insurance fundamentals for 2022 resilient despite volatile markets: Fitch
12th April 2023
Fitch Ratings' new report on UK life insurers’ fundamentals for 2022 indicates the market has remained strong, despite financial market volatility and elevated inflation. “Insurers’ new business volumes and underlying operating performance were resilient, while the rising interest rates benefitted companies’ Solvency II (S2) ratios,” commented Fedor Smolyakov, Director of ... Read the full article
Fitch views RGA’s market position ‘favourably’
11th April 2023
Fitch Ratings views the Reinsurance Group of America’s (RGA) entrenched market position and long track record in the global reinsurance market "favourably". This news follows Fitch's outlook revision for RGA to positive from stable. Fitch said that this outlook revision reflects RGA’s business profile improvement as the largest provider of ... Read the full article
Fitch turns positive on Reinsurance Group of America
6th April 2023
Fitch Ratings has revised Reinsurance Group of America’s outlook to positive from stable and has also affirmed its senior debt ratings at 'BBB'. The agency also announced that it has affirmed RGA Reinsurance Company's (RGA Reinsurance) IFS rating at 'A' (Strong). Fitch says that this outlook revision reflects RGA’s business profile improvement ... Read the full article
European reinsurers’ life business units profitability improved in 2022: Fitch
5th April 2023
The life reinsurance business units of the four major European reinsurers have presented a strong return to profitability in 2022 as pandemic-related claims declined and the overall claims experience was positive, according to Fitch Ratings. Even though pandemic-related claims still burdened 1Q22 results, on average, Covid-19-related claims declined to 3.3% in ... Read the full article
French earnings diverge between life & non-life: Fitch
4th April 2023
Analysts at Fitch Ratings have estimated that the operating profits of French insurers increased by around 3% in 2022, despite broadly flat premium income, although the life and non-life segments showed diverging trends in their results. Fitch observed strong growth in life operating earnings that reflects higher technical margins, due to ... Read the full article