Reinsurance News
Fitch
U.S P&C earnings volatile following equity accounting changes: Fitch
27th June 2018
Re/insurance companies that report under U.S Generally Accepted Accounting Principles (GAAP) may be subject to earnings volatility over 2018 due to a change in accounting for equity securities, according to Fitch Ratings. In an effort to promote convergence with international accounting practices, from January 1, 2018, companies have had to recognise ... Read the full article
U.S P&C personal lines losses rise for fourth straight year: Fitch Ratings
25th June 2018
Underwriting losses in the U.S P&C personal lines segment grew for the fourth consecutive year in 2017, according to a new report by Fitch Ratings. The industry statutory personal lines combined ratio rose to 103.8% in 2017 despite continued favourable written premium growth and moderate improvement in the personal auto segment, ... Read the full article
U.S P&C sector well prepared for 2018 hurricane season: Fitch
8th June 2018
U.S Property and Casualty (P&C) re/insurers are well prepared for the 2018 hurricane season, which is expected to return to normal levels following an extremely active 2017 season, according to Fitch Ratings. The rating agency concluded that U.S insurers are well positioned to withstand a future significant catastrophe event in 2018, ... Read the full article
Irma showed the robustness of Florida specialists’ reinsurance utilisation: Fitch
6th June 2018
After the impact of hurricane Irma, primary Floridian insurance companies reported fairly limited losses when compared with the volume assumed by the global reinsurance segment, with many primary players reporting that overall losses fell well within their respective reinsurance programmes, reports Fitch. The ratings agency reports that a notable lack of ... Read the full article
Fierce competition leads to buyers market for cyber re/insurers: Fitch
16th May 2018
Profitable results in the fast-growing cyber space have led to fierce competition and a buyers market, with renewal rates expected to suffer, according to Fitch Ratings. Fitch observed that cyber continues to represent a significant growth opportunity for U.S property & casualty (P&C) re/insurers, driven by increasingly high-profile cyber-attacks and regulatory requirements. In ... Read the full article
Bermuda reinsurers remain strong despite challenging 2017: Fitch Ratings
11th May 2018
Whilst profitability remains under pressure after a trying 2017, Bermudian reinsurers have proven resistant to losses thanks to strong capitalisation, positive pricing, low exposures, and conservative reserving practices, according to Fitch Ratings’ latest peer review of the sector. 2017 was a year of record-breaking catastrophe losses, with Hurricanes Harvey, Irma, and ... Read the full article
Fitch stays negative on reinsurance but expects improved profitability in 2018
8th May 2018
Fitch Ratings has maintained its negative outlook for the global reinsurance sector in light of ongoing competition, low interest rates and the influx of alternative capital, but does state that profitability is likely to improve for the industry in 2018. The ratings agency expects reinsurer profitability to improve in 2018, driven ... Read the full article
Liability insurers’ D&O rates set to decline further in 2018: Fitch
21st March 2018
Property/casualty insurers active in the directors & officers (D&O) liability market could have difficulty maintaining underwriting performance in 2018 as market pricing remains highly competitive, and claims' trends point to challenges ahead, according to Fitch Ratings. As a niche segment in the U.S. insurance market D&O insurance has seen a trend ... Read the full article
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