Reinsurance News
non-life
Rising premium rates boost prospects for UK and Italian non-life insurers in 2024: Fitch
12th January 2024
In the ever-evolving landscape of European non-life insurance, Fitch Ratings predicts that the United Kingdom and Italy are poised to reap the greatest benefits from the anticipated surge in premium rates throughout 2024. The non-life insurance sector across Europe is expected to enjoy the fruits of higher premiums, alleviated claims inflation, ... Read the full article
AM Best maintains Stable outlook on Malaysia’s non-life insurance segment
29th December 2023
Global credit ratings agency AM Best, has confirmed that it is maintaining its outlook on Malaysia’s non-life insurance segment at Stable. The agency citied expectations of solid premium growth and the maintenance of underwriting and pricing discipline maintained amid the phased de-tariffication of motor and fire businesses. In Best's report, it reveals ... Read the full article
AM Best maintains Negative outlook on German non-life insurance segment
19th December 2023
Global credit ratings agency AM Best has confirmed that it is maintaining it's Negative outlook for the German non-life insurance segment, citing subdued growth prospects on an inflation-adjusted basis, as well as persistent claims inflation and a competitive environment affecting underwriting profitability. The agency also cited natural catastrophe losses, which are ... 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
Fitch forecasts Stable outlook for German non-life insurance in 2024
4th December 2023
In its latest sector outlook report, Fitch Ratings anticipates a stable trajectory for German non-life insurance in 2024. The analysis highlights key factors contributing to this outlook, including expectations of reduced inflationary pressure on motor and property claims, improved investment income due to higher fixed-income yields, and the maintenance of underwriting ... Read the full article
European non-life insurers remain strongly reserved despite inflation: BofA Securities
28th November 2023
As per the BofA Securities annual reserve review, European non-life insurers remain "strongly reserved and well placed to deal with shocks, despite the impact of higher-than-expected inflation in recent years." Analysts at BofA Securities noted that buffers acted as an important first line of defence against unexpected inflation shocks last year, ... 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
UK non-life insurance premium income expected to grow 8.5% in 2023: EY
7th November 2023
UK non-life insurance premium income is forecasted to grow 8.5% in 2023, up from 3.9% in 2022, before slowing slightly to 5.1% in 2024 and 4.1% in 2025, according to a recent analysis from EY Item Club. This growth is expected to be driven by sizeable rises in premium prices, as ... Read the full article
AM Best maintains negative outlook on Indonesia non-life insurance segment
11th October 2023
Global ratings agency AM Best has confirmed that it is maintaining a negative outlook on the Indonesia non-life insurance segment. The agency cities heightened reinsurance credit risk and potential pressure on underwriting margins owing to rising reinsurance costs and more-restrictive coverages, as the key reasons behind the negative outlook. In a new ... Read the full article
Non-life reinsurance market to see continued growth: Swiss Re
11th September 2023
Global reinsurer Swiss Re has noted that the non-life reinsurance market is expected to grow above GDP for the next decade, driven mainly by inflation and urbanisation. "The 10-year outlook for the market in USD shows nominal growth of approximately 5.4% per year, or around 3% adjusted for inflation," Swiss Re ... Read the full article
Hard market to continue with disequilibrium in demand and supply: Swiss Re Institute
9th September 2023
A disequilibrium in demand and supply of non-life insurance is expected to persist, and with it a continuation of current hard market conditions, especially in property catastrophe lines, according to Swiss Re Institute. Driven by increased natural catastrophe activity as well as inflation, demand for insurance protection has risen since 2017, ... Read the full article
IRDAI appoints Liberty General Insurance as lead non-life insurer for Delhi
14th August 2023
Liberty General Insurance (LGI), one of the leading non-life insurance companies in India, has been appointed as the lead insurer for Delhi by the Insurance Regulatory and Development Authority of India (IRDAI). The appointment comes as a part of IRDAI’s State Insurance Plan, which aims to enhance financial awareness and drive ... Read the full article
AM Best revises outlook on Philippine non-life insurance market segment to negative
1st August 2023
In a recent report, credit rating agency AM Best has revised its outlook on the Philippine non-life insurance market segment from stable to negative. The change in outlook comes as domestic insurers face increased negative pressure on their balance sheet strength and operating performance. The key reason for this shift is ... Read the full article
Positive growth expected for European non-life insurers despite persisting inflation: S&P
26th July 2023
Despite seeing a drop, inflation is expected to impact European non-life insurers, yet S&P Global Ratings believe they will continue to perform robustly. European insurers are facing numerous challenges linked to economic growth, inflation, interest rates, and investment. However, their capital strength, liquidity, and rising re-investment rates counterbalance these obstacles, according ... Read the full article
Fitch forecasts resilient credit fundamentals for Japanese non-life insurers in FYE24
30th June 2023
Fitch Ratings has projected that the credit fundamentals of Japanese non-life insurance groups are expected to maintain their resilience throughout the financial year ending in March 2024 (FYE24). Despite facing profitability challenges in FYE23, the three major insurers in Japan, namely MS&AD Insurance Group Holdings, Inc., Tokio Marine Holdings, Inc., and ... Read the full article
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