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.
Large Dutch insurers maintain sound credit profiles in 2023: Fitch
15th May 2024
2023 results have shown that large Dutch insurers maintained a very strong level of regulatory capitalisation, according to Fitch Ratings analysts. Large insurers in the European country demonstrated very strong solvency in the period, with the health sector having the weakest overall solvency levels. This, according to Fitch, reflects health insurers’ practice ... Read the full article
Fitch anticipates surge in UK life insurers’ bulk annuity sales and funded re
22nd April 2024
Fitch Ratings anticipates UK life insurers’ bulk annuity volumes to continue rising in 2024, surpassing £60 billion, with funded reinsurance (funded re) becoming increasingly prevalent. In 2023, bulk annuity sales reached a record high of nearly £50 billion, reflecting a remarkable increase of over £20 billion compared to 2022. Fitch explains, “Demand ... Read the full article
Italian life insurance sector sees negative inflows in 2023: Fitch
16th April 2024
Fitch Ratings' analysis of the 2023 Italian Insurance Dashboard reveals a significant downturn in net inflows for the Italian life insurance sector for both traditional savings and unit-linked products. According to analysts at Fitch, this decline occurred due to “the rise in interest rates, making alternative investments, such as Italian government ... Read the full article
Challenges persist, but operating environment more stable for Turkish insurers: Fitch
12th April 2024
A recent report by Fitch Ratings indicates a positive trend in the operating environment for Turkish non-life insurers, driven by lower inflation and improved pricing practices, particularly in motor damage insurance. This optimism is further bolstered by Fitch's recent upgrade of Turkiye's sovereign rating to 'B+' from 'B', with a revised ... Read the full article
Fitch expects European commercial insurers’ margins to peak in 2024
3rd April 2024
According to analysts at Fitch Ratings, major European commercial insurers will likely see their underwriting margins peak in 2024, followed by a gradual weakening. Throughout 2023, these insurers continued to enhance the profitability of their business, benefiting from a prolonged period of rising prices in the market. Analysts explain, “prices in commercial ... Read the full article
Europe’s big four reinsurers well placed for a strong 2024: Fitch
2nd April 2024
Large European reinsurers posted very strong financial results for 2023, enabling them to bolster reserves and balance sheets and this will support ratings in 2024, according to analysis by Fitch Ratings. The ratings agency feels that Europe's big four reinsurers, Munich Re, Swiss Re, Hannover Re, and SCOR are well placed ... Read the full article
Baltimore bridge event to have limited impact on reinsurer earnings: Fitch
2nd April 2024
As the fallout from the collapse of the Baltimore bridge last Tuesday continues, analysts at Fitch Ratings have said that although a tragic disaster with significant economic repercussions, the event will have a limited impact on individual reinsurers earnings and thus is unlikely to have any impact on ratings. Currently, Read the full article
Fitch predicts highest net combined ratio for German non-life
14th March 2024
Fitch Ratings raises its baseline assumption for German insured catastrophe losses as it forecasts a 99% net combined ratio for 2023 and 2024 for the non-life sector in the country, the worst in recent times. Yet the sector outlook remains neutral, Fitch notes, due to easing claims inflation, rising premium rates ... Read the full article
European insurers to see low CRE exposure: Fitch
6th March 2024
At about 4% of assets, the European insurance sector faces low exposure to the rising risks of commercial real estate (CRE), according to Fitch Ratings, with most insurers facing minimal risk to capital or ratings from falling CRE valuation. Fitch’s report also highlighted that just under half of that exposure is ... Read the full article
Combination of factors led to a “strong recovery” in reinsurance capital in 2023: Fitch
1st March 2024
According to analysts at Fitch Ratings, the combination of a strong earnings generation, the stabilisation of financial markets, and the move to the accounting standard IFRS17 of major reinsurers, has led to a "strong recovery" in reinsurance capital in 2023. Fitch said that it expects it to have grown by 11% ... Read the full article
European reinsurers’ 1/1 renewals outcome suggests underwriting margins close to peaking: Fitch
29th February 2024
Analysis by Fitch Ratings on the outcome of the key January 1st, 2024, renewals for European reinsurers claims that underwriting margins are close to peaking as supply and demand exhibits greater equilibrium. Earlier this year, Fitch warned that reinsurers’ underwriting margins are likely to peak in 2024, as the rating ... Read the full article
UK insurers expected to keep Funded Re below 30% for bulk annuity business: Fitch
28th February 2024
In a recent analysis, Fitch Ratings forecasts that the UK life sector will maintain its cautious approach towards funded reinsurance (Funded Re) for bulk annuity transactions, keeping its usage below 30% of premiums from 2024 to 2026. This strategic restraint, combined with proposed stringent regulations and insurers' preference for diverse panels ... Read the full article
Fitch expects new regulations to enhance Indonesia’s re/insurance sector
22nd February 2024
Fitch Ratings reports that new regulations for Indonesian insurers and reinsurers are likely to reduce the number of companies operating in the sector and encourage a healthier competitive environment. The country's Financial Services Authority will significantly raise minimum equity requirements starting from the end of 2026. Currently, Indonesian insurers must maintain a ... Read the full article
UAE insurance industry shows signs of growth and improvement: Fitch
21st February 2024
In the latest report by Fitch Ratings, the insurance industry in the United Arab Emirates (UAE) is depicted as steadily advancing, with notable improvements in various sectors. Despite facing challenges in 2022, particularly in the motor insurance segment, the industry is poised for growth and enhanced profitability in the coming years. Motor ... Read the full article
Private ownership impact on insurers’ credit under scrutiny: Fitch
20th February 2024
In a recent statement, Fitch Ratings has highlighted the pivotal role of private ownership strategies in shaping the credit outlook for insurers. The credit agency emphasised that the influence exerted by owners on an insurer's business plans, investments, capital management, and dividend policies significantly impacts its credit standing. The spotlight on private ... Read the full article
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