Reinsurance News
Moody’s news
News featuring rating agency Moody’s, including the latest reports, rating actions and analysis from the company, as well as news on Moody’s analysis of the reinsurance sector.
Reinsurers’ reduced coverage sparks volatility in European P&C insurance market: Moody’s
1st September 2023
In 2023, the European property and casualty (P&C) insurance market has been hit by a wave of reduced reinsurance protection, resulting in increased volatility for primary insurers, according to a recent report by Moody's. The shifting landscape has prompted primary insurers to retain more catastrophe risk, with significant implications for their ... Read the full article
Florida’s homeowners insurance market faces strains amid hurricane season challenges: Moody’s
31st August 2023
As the 2023 Atlantic hurricane season unfolds, the homeowners insurance market in Florida is grappling with a series of formidable challenges, according to a recent Moody's report. These include elevated catastrophe exposures, dwindling insurance capacity, surging total insured values, and more expensive reinsurance coverage. While there was enough reinsurance capacity available for ... Read the full article
Stronger earnings and improved resilience for the 4 largest European reinsurers in 2023: Moody’s
30th August 2023
A strong full-year 2023 of earnings is predicted for Munich Re, Swiss Re, Hannover Re and SCOR as they see stronger earnings in the first half of the year with improved resilience despite inflation and natural catastrophes, Moody’s analysts have revealed. The four largest European reinsurers reported combined net results of ... Read the full article
Low flood insurance penetration in western US leaves residents facing significant financial risk: Moody’s
25th August 2023
With more frequent intense floods predicted for the future, residents in western US states need to consider flood insurance, urges Moody’s, as it highlights the region’s low flood insurance penetration rates in a recent report. According to the report, this low percentage of insurance penetration has left residents in California and ... Read the full article
Farmers Insurance Group’s ratings placed on review for downgrade by Moody’s
22nd August 2023
Moody’s has placed Farmers Insurance Group’s ratings on review for downgrade, a move that reflects the rating agency’s concerns around insurer’s underwriting results in its core personal lines and its capital adequacy. The review includes Farmer’s A3 insurance financial strength (IFS) rating and Baa3 (hyb) surplus notes ratings. As well as the ... Read the full article
Hawaii wildfires insured losses will be at least $1bn, says Moody’s
15th August 2023
Moody's estimates that insured losses for the Hawaii wildfires will be at least $1 billion and will primarily affect P&C insurers with significant homeowners and commercial property market share in Lahaina, a town on the island of Maui’s western coast. The Pacific Disaster Center and FEMA recently estimated that 2207 structures ... Read the full article
Moody’s changes Aon’s rating outlook to positive, cites improving profitability
27th June 2023
Moody’s Investors Service has changed Aon’s rating outlook to positive from stable based on the company’s record of improving profitability, its healthy free cash flow, and Moody’s expectation that Aon will maintain financial leverage toward the low end of its historical range. The rating agency has also affirmed the Baa2 senior ... Read the full article
Stable outlook for Italian P&C but negative for life insurers: Moody’s
23rd June 2023
Italian property and casualty (P&C) insurers have been assigned a stable outlook by credit rating agency Moody’s, while Italian life insurers’ has been negative. According to the report, the stable outlook for P&C reinsurers reflect the agency’s expectation that rising prices will largely offset higher claims frequencies and inflation over 2023. Meanwhile, the ... Read the full article
Reinsurance support plays a large role in the cyber insurance market: Moody’s
8th June 2023
According to analysts at Moody's, reinsurance support plays a large role in the cyber insurance market, as primary insurers continue to reinsure cyber risk through quota share arrangements to obtain expertise and capital protection. Citing Gallagher Re's 1st View Emerging Equilibrium published in January this year, Moody's notes that reinsurance pricing ... Read the full article
UK life insurers buying more illiquid assets to match long term liabilities: Moody’s
7th June 2023
UK life insurers are buying more illiquid assets to match their growing long term liabilities as they insure more pension risk through bulk purchase annuity (BPA) contracts, suggest analysts at Moody's. The rating agency notes that UK life insurers invested significantly in the asset class to boost returns when interest rates ... Read the full article
Moody’s RMS receives FCHLPM approval for version 23 of North Atlantic Hurricane Models
6th June 2023
Catastrophe risk modeller Moody’s RMS has announced that version 23 of its North Atlantic Hurricane Models has received approval from the Florida Commission on Hurricane Loss Projection Methodology (FCHLPM). This certification allows the use of these models in residential rate filings with the Florida Office of Insurance Regulation. Moody’s RMS is ... Read the full article
Hurricane forecasts exhibit more uncertainty than normal: Moody’s RMS
31st May 2023
Moody's Risk Management Services (RMS) highlighted that this year's hurricane forecasts are experiencing heightened uncertainty, attributed to various factors influencing the predictions. The forecasts take into account crucial oceanic and climate factors that have historically impacted hurricane activity in the region, namely the El Niño-Southern Oscillation (ENSO) and North Atlantic sea ... Read the full article
Moody’s affirms a stable outlook for RenRe post acquisition of AIG’s Validus Re
24th May 2023
Moody’s affirms RenaissanceRe’s ratings following the announced acquisition of Validus Reinsurance from American International Group, Inc. and said the outlook looks stable. RenaissanceRe has agreed to acquire Validus Re for $2.985 billion in cash. The company plans to fund the acquisition with a combination of equity, including $250 million of ... Read the full article
52% of reinsurers believe significant changes should be made to incorporate climate risk impacts: Moody’s
16th May 2023
2022 is the year that saw unprecedented progress in climate reporting regulation around the world. The significant developments in the last year mean that climate reporting will soon become mandatory in many jurisdictions. In the European Union, the requirements will take the shape of the European Sustainability Reporting Standards (ESRS). In ... Read the full article
RenRe collaborates with Moody’s to benchmark environmental risk impact in its underwriting portfolio
10th May 2023
RenaissanceRe has announced the company’s collaboration with Moody's Analytics to benchmark the environmental impact of risks within its underwriting portfolio. The initiative combines Moody’s sustainability and financial data, models, and analytics with RenaissanceRe’s underwriting and climate expertise to support and provide risk-taking capacity for its customers as they navigate the transition ... Read the full article
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