Reinsurance News
Fitch
New entrants to UK bulk annuity underlines growth potential: Fitch
25th July 2024
The growth potential of the UK bulk annuity market has been highlighted by a wave of new entrants, according to Fitch Ratings. Steep interest rate rises in 2022-2023 boosted pension scheme funding levels, making it more affordable for corporates to transfer their pension liabilities to insurers. Mutual insurer Royal London, for example, ... Read the full article
Allianz’s acquisition of Income Insurance unlikely to alter Singapore market, Fitch
22nd July 2024
Global insurer and asset manager Allianz's proposed acquisition of Singapore’s Income Insurance Limited "should not materially change the competitive landscape in Singapore’s insurance market," says Fitch Ratings. If you recall, Allianz Group, through its wholly owned subsidiary Allianz Europe B.V., recently announced its intention to acquire a 51% majority stake ... Read the full article
Bermuda re/insurers with strong to very strong ratings and ample capital: Fitch
15th July 2024
Global ratings agency Fitch recently reported strong to very strong Insurer Financial Strength (IFS) ratings for Bermuda and U.S. insurers and reinsurers. Arch received an ‘AA-’, RenaissanceRe an ‘A+’, and both SiriusPoint and Hamilton an ‘A–’, all with Stable Outlooks. These high ratings are attributed to the companies' solid capital positions, which ... Read the full article
Insurers continue to face capital challenges: Aon
18th June 2024
Aon, a global insurance and reinsurance broking group, has released its latest capital poll, highlighting the capital challenges and growth prospects for insurers. The challenges faced in 2023 significantly reduced the financial buffers that many insurers previously benefitted, leading to a heightened focus on capital management and diverse funding sources. Despite robust ... Read the full article
Fitch upgrades German non-life insurance sector outlook to ‘improving’
18th June 2024
Fitch Ratings, a financial analysis firm operating out of Frankfurt and London, recently announced a notable change in its evaluation of the German non-life insurance sector. The outlook has been elevated from 'neutral' to 'improving,' driven by expectations of heightened profitability fuelled by robustly increasing premium rates. Despite some European counterparts, recent ... Read the full article
German non-life profitability to recover from historical lows in 2025, says Fitch
26th April 2024
According to Fitch Ratings, German non-life insurers' profitability will start to recover from historical lows in 2025, with weak returns continuing to be seen in 2024 due to low investment income and higher reinsurance costs. However, the agency stated that these cannot be directly passed to policyholders due to claims ... 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
Investors have mixed views on how UK S2 reforms may impact insurer credit quality: Fitch
12th February 2024
Investors appear to have mixed views on the impact of post-Brexit Solvency II (S2) reforms on UK insurers’ credit quality, according to Fitch Ratings. At a recent Insurance Insights event in London, that was attended by investors, issuers, as well as other market participants, an audience poll showed that 30% thought ... Read the full article
North American insurers expected to balance growth opportunities: Fitch
2nd February 2024
With recession at bay and inflation beginning to cool off, North American insurers are expected to balance growth opportunities while weathering potential impediments to growth this year, according to Fitch Ratings analysts and external panelists at the agency’s Insurance Insights 2024 North America investor forum. Fitch noted that the sector outlooks for ... Read the full article
UK non-life outlook improving for 2024: Fitch
26th January 2024
Analysts at Fitch Ratings have explained that their sector outlook for the UK non-life London market is improving for 2024, with price increases and higher reinvestment yields expected to offset claims inflation. The rating agency also says that demand should not be much affected by the economic slowdown. At the same time, ... Read the full article
UK life sector outlook set apart due to growth in pension risk transfers: Fitch
4th January 2024
The UK life insurance sector is the only life sector in Europe with an improving outlook for 2024, which is largely due to the prospect of strong profitable growth in pension risk transfers, says Fitch Ratings. The agency highlighted how higher interest rates have boosted pension scheme funding levels, ultimately making ... Read the full article
Italian non-life outlook improving, life remains neutral: Fitch
12th December 2023
According to Fitch Ratings, the outlook for Italian insurance is improving for non-life compared with 2023 actuals, while life remains neutral. Fitch's non-life sector is improving due to the expectation that widespread tariff increases to more than offset persistent high inflation-related claims costs, with motor claims frequency also expected to remain ... Read the full article
UK non-life outlooks improving on favourable conditions & easing inflationary pressures: Fitch
4th December 2023
According to Fitch Ratings, the London and UK company markets will be bolstered in 2024 by easing inflationary pressures, pricing conditions remaining strong, as well as favourable reinvestment yields. The agency has revised it's sector outlook for the company market to improving from deteriorating. In 2023, UK non-life insurance pricing witnessed a ... Read the full article
APAC international non-life insurers demonstrate resilience in peer review: Fitch
27th November 2023
In a recent peer review conducted by Fitch Ratings, APAC non-life insurers with substantial international operations have demonstrated robust company profiles and commendable capitalisation, setting them apart from their peers in the US and EMEA. Fitch Ratings has assigned a rating category of 'Favorable' to 'Most Favorable' to the company profiles ... Read the full article
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