Reinsurance News
non-life
Global reinsurers’ earnings to remain favourable through 2025, says Fitch
28th August 2024
Global reinsurers are expected to maintain strong earnings through the rest of 2024 and into 2025, thanks to generally adequate pricing and disciplined underwriting, according to a recent Fitch Ratings report. In the first half of 2024, the 19 non-life reinsurers tracked by Fitch achieved a combined ratio of 84.2%, an ... Read the full article
Non-life insurance premium rate trends differ throughout Europe: Fitch
30th July 2024
As per Fitch Ratings, non-life insurance premium rates are showing different trends across numerous European markets, following the rating agency's mid-year review of insurance sector outlooks. According to Fitch, non-life insurers have been looking to increase prices to offset high claims inflation and reinsurance costs, however their ability to do so ... Read the full article
AnaCap enters exclusive talks to acquire Cleva from Inetum
3rd July 2024
AnaCap, a private equity investor specialising in collaborations with founders and entrepreneurial management teams across services, technology, and software in the European financial sector, has entered into exclusive negotiations to acquire the insurance software provider Cleva from Inetum Group. This will be AnaCap’s second major investment in 2024, following the acquisition ... 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
Asian Re achieves 76% increase in net profit in 2023 fiscal year
18th June 2024
Asian Reinsurance Corporation (Asian Re), a regional non-life reinsurer, has reported a substantial 76% rise in net profit to USD 3.21 million for the fiscal year 2023, marking a significant milestone in its financial performance. Underwriting and operating performance metrics are expected to improve in the intermediate term as Asian Re ... Read the full article
DARAG and UnipolSai form service partnership
17th June 2024
DARAG Group, a (re)insurance specialist in discontinued business and capital and operational relief, has entered into a service agreement with UnipolSai Assicurazioni S.p.A. (Unipol), an Italian insurer within the Unipol Group. Unipol is a major player in non-life insurance and motor vehicle third-party liability (TPL) in Italy. Under this agreement, DARAG Deutschland ... Read the full article
AM Best expects Asian Re’s underwriting and operating performance to improve
14th June 2024
AM Best, a global credit rating agency for the insurance sector, has reaffirmed Asian Reinsurance Corporation (Asian Re), a regional non-life reinsurer, with a Financial Strength Rating of B+ (Good) and a Long-Term Issuer Credit Rating of “bbb-” (Good), both with a positive outlook. AM Best expects that Asian Re’s execution ... Read the full article
AM Best revises Italy’s non-life insurance segment to stable
11th June 2024
Global credit ratings agency AM Best has revised its outlook on Italy’s non-life insurance segment from negative to stable, citing growth momentum supported by tariff adjustments and stabilisation of the economic environment. In a report, the agency explained that it expects non-life insurance gross written premium (GWP) to continue to grow ... Read the full article
Broadstone unveils Insurance, Regulatory & Risk Advisory division
3rd June 2024
Broadstone, the independent pensions, employee benefits, investment and insurance consultancy, has launched its standalone Insurance, Regulatory & Risk Advisory division. According to the announcement, this proposition will service the life and non-life insurance sector including Lloyds and the London market, in addition to redress solutions and credit risk, financial modelling and ... Read the full article
AM Best maintains negative outlook on France’s non-life insurance segment
22nd May 2024
Global credit ratings agency AM Best has confirmed that it is maintaining its negative outlook on France’s non-life insurance segment, citing a number of factors, such as: modest real top-line growth on an inflation-adjusted basis, inflation impact on profitability in light of strong competition, and volatility sustained by the upsurge ... Read the full article
AM Best revises Spain’s non-life insurance segment from negative to stable
17th May 2024
Global credit ratings agency AM Best has revised its outlook on Spain's non-life insurance segment from negative to stable, driven by segment growth supported by economic development and resilient profitability on the back of premium rate increases. The agency has confirmed that it expects non-life insurance premium growth in Spain to ... 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
Lloyd’s changes its way of operating in two countries
4th March 2024
Lloyd’s Insurance Company S.A. (Lloyd’s Europe) has announced its will provide non-life insurance business services on a Freedom to provide Services basis only in Lithuania and Malta from February 29, 2024. According to the announcement, the National Bank of Belgium (NBB), as Lloyd’s Europe’s home supervisor, has confirmed it has no ... Read the full article
Fitch forecasts challenging times for German non-life insurance sector
8th February 2024
According to Fitch Ratings, the German non-life insurance sector is set to grapple with a net combined ratio of 99% for both 2023 and 2024, marking the highest figures since the tumultuous loss years of 2013 and 2002. The forecast primarily attributes this predicament to mounting claims inflation and substantial reinsurance ... Read the full article
AM Best maintains Stable outlook for Japan’s non-life insurance industry
31st January 2024
AM Best is maintaining a stable outlook on Japan's non-life insurance industry, emphasising the sector's profitable and stable underwriting practices and robust capital base amid financial market uncertainties. The rating agency highlights insurers' initiatives to enhance the profitability of the fire insurance line as a significant factor contributing to the stable ... Read the full article
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