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AM Best revises Taiwan’s non-life insurance segment to stable
18th September 2024
AM Best, the global credit rating agency, has revised its outlook on Taiwan’s non-life insurance segment to stable from negative, following a recovery of capital strength among carriers in 2023 after suffering sizeable pandemic-related losses in the previous year. Another key factor that underpins the outlook revision is that insurers reportedly ... Read the full article
Aon reports dip in US P&C companies upgraded to ‘A’ by AM Best in 2023
12th August 2024
In 2023, Aon observed that only 6 out of 175 US Property and Casualty (P&C) companies were upgraded by AM Best from an “A-” to an “A” rating based on their own merit, which is below the 5-year average of 9 upgrades per year. In the first half of 2024, only ... Read the full article
AM Best downgrades ratings of Farm Bureau Mutual Insurance Company of Arkansas
31st May 2024
Credit rating agency AM Best has downgraded the credit ratings of Farm Bureau Mutual Insurance Company of Arkansas, Inc. (FBMICA), a regional insurer, due to severe weather-related losses. The Financial Strength Rating dropped from B+ (Good) to B (Fair) and the Long-Term Issuer Credit Rating from “bbb-” (Good) to “bb” (Fair), ... Read the full article
AM Best upgrades credit ratings of MS Reinsurance
26th April 2024
Rating agency AM Best has upgraded the Financial Strength Rating to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Rating to “aa-” (Superior) from “a” (Excellent) of MS Reinsurance, and has assigned a stable outlook to the ratings. AM Best highlights the additional explicit support that MS Reinsurance receives ... Read the full article
Credit ratings of Talcott Resolution Life subsidiaries upgraded by AM Best
30th October 2023
AM Best has upgraded the credit ratings for most of Talcott Resolution Life, Inc.’s subsidiaries, and given them a stable outlook. The Financial Strength Rating (FSR) for Talcott Resolution Life Insurance Company and Talcott Resolution Life and Annuity Insurance Company was upgraded to A- (Excellent) from B++ (Good) and the Long-Term ... Read the full article
AM Best places Clear Blue’s rating under review with negative implications amid Vesttoo issues
26th July 2023
Global ratings agency AM Best has placed the credit ratings of fronting and program specialist, Clear Blue Insurance Group, under review with negative implications, citing uncertainty around the firm's ability to rely on certain letters of credit (LOC) posted to back reinsurance, as the investigation at Vesttoo continues. Despite the ... Read the full article
AM Best warns of EMEA re/insurer ratings volatility
21st March 2023
AM Best has warned that the ratings of re/insurers in Europe, the Middle East and Africa (EMEA) have been more sensitive to market events in 2022 than in previous years. In particular, heightened geopolitical tensions, the rise in global inflation, and recessionary pressures have contributed to a difficult insurance and capital ... Read the full article
Negative outlook for Germany’s non-life insurance segment: AM Best
7th November 2022
AM Best is revising its outlook for the German non-life insurance segment to Negative from Stable, mainly driven by uncertainty and significant changes in the operating environment. Factors that support the Negative outlook according to the rating agency, include growth prospects challenged by economic uncertainty and rising inflation and vehicle use ... Read the full article
AM Best maintains negative outlook on Indonesia non-life market
1st November 2022
Global credit rating agency AM Best has announced it is maintaining its negative outlook on the Indonesia non-life insurance market. According to the agency this decision is mainly due to challenges in credit and motor insurance and ongoing macroeconomic uncertainties. Claims frequency normalisation, which has the potential to dampen the segment’s ... Read the full article
AM Best assigns positive credit ratings to Generali Hong Kong
24th August 2022
Ratings agency, AM Best has assigned Generali Hong Kong a Financial Strength Rating of “A” (Excellent) and a Long-Term Issuer Credit Rating of “a+” (Excellent). The outlook assigned to these ratings is stable. The ratings reflect Generali Hong Kong’s inclusion as a member of the lead rating unit of Assicurazioni Generali S.p.A. ... Read the full article
Wilton Re’s ratings downgrade related to revision in ownership uplift: Fitch
8th August 2022
Fitch Ratings has downgraded Wilton Re’s Insurer Financial Strength (IFS) ratings amidst revision in ownership uplift. Wilton Re’s IFS rating has been downgraded to 'A' from 'A+'. Fitch has also downgraded Wilton Re’s Long-Term Issuer Default Rating (IDR) to 'BBB+' from 'A-'. The rating outlook is stable. The downgrade reflects a revision ... Read the full article
Centauri carriers’ A rating affirmed as Demotech announces revisions
4th August 2022
The Centauri insurance companies, which operate in Hawaii and along many of the coastal states in the U.S., have had their 'A' (Exceptional) rating affirmed by Demotech, a move it says reflects disciplined underwriting and its robust reinsurance program. The anticipated changes to ratings of property insurers with a Florida focus ... Read the full article
AM Best revises outlooks to negative for WAICA Re
1st August 2022
AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B+ (Good) of WAICA Reinsurance Corporation PLC (WAICA Re). Additionally, the rating agency has also revised the Long-Term Issuer Credit Rating of “bbb-” (Good) of the West African reinsurer. Am Best notes that the credit ... 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
Demotech approved as Nationally Recognized Statistical Rating Organization by SEC
19th July 2022
Rating agency and financial analysis firm Demotech, Inc. has now been approved as a Nationally Recognized Statistical Rating Organization (NRSRO) by the United States Securities and Exchange Commission (SEC). The approval came on July 12th and now the recognition by the SEC now positions Demotech alongside the other main financial services ... Read the full article
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