Reinsurance News
Fitch
US Niche Insurers’ business profiles drive ratings: Fitch
23rd August 2022
According to a recent Fitch Ratings peer review, the ratings of the Midsize Niche North American Life Insurers peer group are driven by their differentiated business profiles. Fitch views the Reinsurance Group of America’s (RGA) entrenched market position and long track record in the global reinsurance market favourably. RGA participates in the ... Read the full article
US mortgage results back at pre-pandemic levels: Fitch
18th August 2022
New analysis from Fitch Ratings shows that US mortgage insurance underwriting results in 1H22 were particularly strong as current-year loss activity is in line with pre-pandemic periods. However, the rating agency added that results were more than offset by highly favourable reserve development, leading to a calendar-year loss ratio of negative ... Read the full article
Fitch highlights strong capital position of mutual US life insurers
16th August 2022
Fitch Ratings has given the Large and Highly Rated Mutual US Life Insurers peer group an Insurer Financial Strength (IFS) score ranging from ‘AA+ to ‘AAA’. This is driven chiefly by the mutual insurers’ capital positions. Compared with stock companies, the mutual insurers generally have a longer-term focus on sustainable returns ... Read the full article
US life insurers’ commercial mortgages stable amid growing headwinds: Fitch
15th August 2022
A recent Fitch Ratings report has said U.S life insurers’ commercial mortgage fundamentals have largely recovered since the pandemic, with stable property outlooks for hotel, office retail, and multifamily sectors. The Federal Reserve’s monetary tightening and the current recession will pressure some sectors of commercial mortgages over the midterm, with high ... Read the full article
Fitch revises ARC Limited’s outlook to Positive
28th July 2022
Fitch has revised African Risk Capacity (ARC) Limited’s outlook to Positive from Stable and has also affirmed its IFS rating at BBB+. The credit rating agency says that this outlook revision reflects ARC Limited’s “strong progress in meeting its development objectives, which if sustained, could support a stronger ... Read the full article
Insurance sector not materially exposed to BI losses due to Russian gas standoff – Fitch
22nd July 2022
The insurance sector is not materially exposed to the business interruption losses that could arise due to a cut-off in Russian gas supplies to Europe, according to a statement by Fitch. Business interruption (BI) insurance policies typically only cover losses resulting from physical damage to business premises or production ... Read the full article
Fitch upgrades PartnerRe following acquisition by Covea
21st July 2022
Fitch Ratings has upgraded PartnerRe’s Issuer Default Rating (IDR) to 'A' from 'A-' and senior unsecured debt ratings to 'A-' from 'BBB+'. Fitch has also upgraded the Insurer Financial Strength (IFS) rating of Partner Reinsurance Company, the company's principal reinsurance operating subsidiary, to 'AA-' (Very Strong) from 'A+' (Strong), ... Read the full article
Volatility in Dutch insurers’ Solvency II ratio expected to increase: Fitch
15th July 2022
Analysts at Fitch Ratings have stated that they expect volatility in Dutch insurers’ Solvency II ratios to increase, due to the insurers’ exposure to fluctuating equity and real-estate prices, as well as widening credit spreads and potential credit deterioration. The impact, however, is more emphasised for insurers with less conservative investment ... Read the full article
Fitch appoints Hidalgo as Global Head of Insurance Industry Sales
14th July 2022
Fitch Ratings has appointed Augusto Hidalgo as Global Head of Insurance Industry Sales, where he will be based in London. Hidalgo made the announcement earlier this week on LinkedIn. With over 30 years of experience working within the industry, Hidalgo brings a strong level of expertise towards his new role. He joins from ... Read the full article
IFRS 17 not expected to affect insurers’ business models or credit ratings: Fitch
8th July 2022
Analysts at Fitch Ratings have stated that the first public comments from Dutch insurer – ASR, on the implications of IFRS 17 support Fitch Ratings’ view that the new standard will not affect insurers’ business models in the near term. The major European insurer said in an update last month ... Read the full article
Insurance fundamentals steady despite macro challenges: Fitch
1st July 2022
Analysts at Fitch Ratings have explained that their neutral sector mid-year outlooks for a vast majority of insurance sectors and regions reflect steady fundamentals across most markets despite the broadly challenging economic climate. In particular, Fitch expects non-life claims to continue to normalise after pandemic pressures, although costs are now rising ... Read the full article
MPLI market shows improvement, but remains unprofitable: Fitch
20th June 2022
Analysts at Fitch Ratings highlighted how results for the US medical professional liability insurance (MPLI) market improved significantly in 2021, reversing a four-year trend of weakening performance, but still, however, generating a 108% combined ratio. Segment performance is expected to further improve in 2022 due to earned premium growth related to ... Read the full article
“Insurance Capital Standard could augment the analysis of insurers’ capital” – Fitch
8th June 2022
Fitch Ratings says that the Insurance Capital Standard (ICS) could augment the analysis of insurers’ capital by serving as a comparator benchmark across geographies. The standard, due to be implemented globally by 2025, aims to provide a globally comparable risk-based measure of the capital adequacy of Internationally Active Insurance Groups (IAIGs). ... Read the full article
Hurricanes could challenge P&C industry this year, says Fitch
6th June 2022
A hurricane that hits land could present additional challenges to a P&C sector beset by inflation increases and the potential for stagflation, says Fitch in a new note. The firm said that natural catastrophe losses, particularly severe weather-related events, represent a major source of loss volatility, but capital levels of large ... Read the full article
P&C lines poised for favourable underwriting gains: Fitch
25th May 2022
Analysts at Fitch Ratings have reported that the underwriting performance of US property and casualty (P&C) insurance commercial sector lines is “poised for favourable underwriting gains in 2022,” barring outsized natural catastrophe losses. Commercial lines’ underwriting performance returned to profitability in 2021, with significant declines in both calendar-year loss and expense ... Read the full article
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