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.
Hub International Limited’s corporate family assigned B2 rating by Moody’s
3rd October 2024
Moody’s Ratings has upgraded Hub International Limited’s corporate family rating to B2 from B3, with a stable outlook, as well as its probability of default rating to B2-PD from B3-PD. According to the agency, this upgrade was based on the company’s steady credit metrics and Moody’s expectation that Hub will maintain ... Read the full article
Hurricane Helene may lead to significant losses for P&C re/insurers, says Moody’s
30th September 2024
Hurricane Helene, which struck Florida on September 26, 2024, has caused significant damage and could lead to substantial losses for property and casualty (P&C) re/insurers, particularly in the homeowners and commercial property sectors, according to a recent Moody’s Ratings report. Identified as a Category 4 storm, Hurricane Helene brought destructive winds, ... Read the full article
Moody’s puts total property damage from hurricane Helene at $15-26bn
30th September 2024
After Hurricane Helene, a Category 4 storm with 140 mph winds made landfall in Florida’s Big Bend on Thursday evening, reviving the quiet hurricane season, analysts at Moody's have placed the total property damage at between $15 billion and $26 billion, with a total cost of $20 billion to $34 ... Read the full article
Moody’s upgrades Zurich Insurance’s rating with stable outlook
18th September 2024
Moody’s Ratings has upgraded the insurance financial strength rating (IFSR) of Zurich Insurance Company (ZIC), the main insurance arm of Zurich Group, from Aa3 to Aa2. Additionally, Moody’s has raised Zurich Group’s long-term debt ratings by one notch. The outlook for all issuers has been revised to stable from positive. The upgrade ... Read the full article
P&C insurers to retain majority of losses from Hurricane Francine: Moody’s
17th September 2024
According to a recent Moody’s Ratings report, property and casualty (P&C) insurers are expected to absorb most of the losses from Hurricane Francine, which made landfall in Terrebonne Parish, Louisiana, on September 11, 2024. Hurricane Francine, a Category 2 storm with winds reaching 100 miles per hour, caused significant damage with ... Read the full article
Moody’s revises outlook for UK P&C to stable, life remains unchanged at stable
12th September 2024
Moody's Ratings has revised its outlook for the UK property & casualty (P&C) sector to stable from negative, which the agency attributes towards P&C personal lines cover, such as motor insurance, rising sufficiently to absorb claims inflation. The agency also noted that its outlook for the UK life insurance sector remains ... Read the full article
Insurers and asset managers continue to invest in longer term cybersecurity planning: Moody’s
10th September 2024
A vast majority of insurers and asset managers are continuing to invest in longer term cybersecurity planning and have put in place advanced cybersecurity protection, a new report from Moody's Ratings reveals. According to Moody's, these efforts reflect the growing frequency and sophistication of cyberattacks, as well as increased regulatory expectations ... Read the full article
Rising US life reinsurance activity in Cayman Islands is credit negative: Moody’s
9th September 2024
US life insurers are increasingly turning to the Cayman Islands for reinsurance; however, Moody’s Ratings considers this trend a net credit negative for the sector due to heightened counterparty risk, reduced international recognition, and less transparent financial regulation. US life insurers strategically reinsure their business across various jurisdictions to optimise reserves, ... Read the full article
Cyber insurance market poised for growth as cyberattacks continue to increase: Moody’s
6th September 2024
The cyber insurance market is poised for significant growth over the next several years as cyberattacks continue to grow in number and sophistication, with the potential to cause major financial and reputational damage and disrupt business operations, according to a new report from Moody's Ratings. However, as profitability has improved and cyber ... Read the full article
Moody’s assigns A1 IFSR to SCOR & entities, outlook retained at stable
6th September 2024
Global ratings agency Moody’s Ratings has affirmed the A1 insurance financial strength ratings (IFSR) of French reinsurer SCOR and its key operating entities, with the outlook on all retained at stable. Simultaneously, all debt ratings were also affirmed by Moody’s. Despite rebalancing its underwriting portfolio, SCOR has maintained the strength of ... Read the full article
Moody’s adds casualty & liability modeling capabilities with Praedicat acquisition
5th September 2024
Casualty insurance analytics provider, Praedicat, has been acquired by global rating agency Moody's Corporation, building on its acquisition of RMS in 2021 and advancing its investments in new analytics and growth in the casualty marketplace. Terms of the transactions have not been disclosed, but Moody's says that it will not ... Read the full article
Reinsurers to maintain healthy pricing and tight T&Cs for another year: Moody’s
4th September 2024
According to Moody's, most respondents to its annual survey of global property & casualty reinsurance buyers expect prices to remain stable or increase in 2025, suggesting that reinsurers will maintain healthy pricing and tight terms and conditions in most business lines for another year. Around 61% of respondents to Moody's 2024 ... Read the full article
Higher prices and tighter policy terms drives positive reinsurance sector outlook: Moody’s
3rd September 2024
A combination of higher prices and tighter policy terms, supported by favourable risk/return dynamics and healthy investment income, are among the key drivers supporting the global reinsurance industry, as Moody's outlook for the sector has been revised to positive. In a new Moody's report, analysts highlighted that property reinsurers have raised ... Read the full article
Moody’s upgrades Talcott Financial Group & subsidiaries outlook to positive
16th August 2024
Moody’s Ratings has upgraded the insurance financial strength (IFS) ratings of Talcott Resolution Life Insurance Company and Talcott Resolution Life and Annuity Insurance Company from Baa2 to Baa1. The company also upgraded the senior unsecured debt rating of Talcott Resolution Life, Inc. and the issuer rating of Talcott Financial Group, Ltd. ... Read the full article
Moody’s RMS puts Hurricane Debby US private market insured loss at less than $1.5bn
15th August 2024
The U.S. private market insurance industry loss from Hurricane Debby is not expected to exceed $1.5 billion, while losses to the National Flood Insurance Program (NFIP) from the event will be less than $300 million, according to Moody’s RMS Event Response. Hurricane Debby was the fourth named storm of the 2024 ... Read the full article
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