Reinsurance News
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Arch outlook revised to “stable”
27th June 2022
S&P has revised its outlook on Arch Capital Group Ltd. to “stable” from “negative”. It has also raised long-term issuer credit and financial strength ratings on Arch's US MI companies, and Arch Insurance (EU) Designated Activity Co. to “A+” from “A”. Read the full article
US cyber liability market continues growth trend
22nd June 2022
Direct premiums written in the US cyber liability market continued to grow in 2021, seeing a 75% increase, far outpacing that of the overall property/casualty insurance industry. However, according to an AM Best report, there has been a 16% increase in claims and just a modest reduction in the loss ... Read the full article
Moody’s places Peak Re’s ratings on review for downgrade
17th June 2022
Moody’s has placed the A3 insurance financial strength (IFSR) rating of Peak Reinsurance Company Limited (Peak Re) under review for downgrade. The rating agency is concerned of contagion risks to Peak Re increasing as Fosun's credit profile weakens. This action follows the rating action placed to review for downgrading the Ba3 corporate ... Read the full article
FedNat has doubt it can continue amid downgrade and underwriting losses
26th April 2022
Florida headquartered primary insurer FedNat has cast doubt over its ability to continue as a going concern in light of its recent rating downgrade by Demotech, while the firm expects further underwriting losses in Q1 2022 on the back of new catastrophe weather events. Almost a decade ago, FedNat embarked on ... Read the full article
AM Best assigns positive credit ratings to Fortitude Re
11th March 2022
Rating agency AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” (Excellent) to Fortitude Reinsurance Company, and also assigned an FSR of A (Excellent) and a Long-Term ICR of “a” (Excellent) to Fortitude International Reinsurance Ltd. (FIRL). The ... Read the full article
AM Best gives ‘A’ rating to Leadenhall backed Nectaris Re
14th May 2021
Ratings agency A.M. Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a” (Excellent) to Nectaris Re Ltd, which is backed by London-based specialist ILS and reinsurance related investments manager, Leadenhall Capital Partners LLP. Domiciled in Bermuda, Nectaris Re is the main operating ... Read the full article
Lloyd’s appoints KBRA as additional rating agency, is graded AA-
22nd April 2021
Insurance and reinsurance marketplace Lloyd’s of London has appointed Kroll Bond Rating Agency (KBRA) to provide an additional independent opinion of its financial strength. Accordingly, KBRA has assigned an AA- insurance financial strength rating (IFSR) to Lloyd’s with a stable outlook. This complements existing financial strength ratings of A+ (Strong) from Standard ... Read the full article
S&P stays negative on global reinsurance as sector fails to earn cost of capital
26th February 2021
Despite an improving and hardening market environment, reinsurers were faced with a myriad of challenges throughout 2020 as catastrophes and COVID-19 added to existing adverse sector trends, leading S&P Global Ratings to maintain its negative stance on the global reinsurance industry. Back in May 2020, S&P turned negative on the ... Read the full article
S&P upgrades L&G Re to reflect reinsurer’s core status
4th February 2021
Since its formation in 2014, Legal & General Reinsurance Co. Ltd. (L&G Re) has become an essential part of the group's reinsurance strategy, leading S&P to upgrade the reinsurer to 'AA-' from 'A+' with a stable outlook. The reinsurance coverage provided by L&G Re to the other members of the Legal ... Read the full article
Demotech accuses rating agencies of “short-sighted” reinsurance view
25th January 2021
Financial analysis firm Demotech has encouraged property re/insurers to re-think their choice of rating agency, on the basis that many agencies take a “short-sighted,” quarterly earnings perspectives. For instance, it is prudent for property insurers with exposure to catastrophe to spend heavily on reinsurance to secure appropriate levels of vertical and ... Read the full article
Core Specialty confirms assignment of AM Best ratings
29th December 2020
Specialty insurance carrier, Core Specialty Insurance Holdings, Inc., has confirmed that rating agency A.M. Best has removed from under review with developing implications the credit ratings of StarStone Specialty Insurance Company and StarStone National Insurance Company. At the same time, A.M. Best has affirmed the Financial Strength Ratings of A- (Excellent) ... Read the full article
Peak Re assigned first-time A3 rating by Moody’s
16th June 2020
Hong Kong domiciled reinsurer, Peak Reinsurance Company Limited, has received an A3 insurance financial strength rating (IFSR) from Moody's Investors Service, while the outlook on the rating is stable. Moody's highlights the reinsurance company's good franchise in the Asian reinsurance sector, robust capitalisation, expanding product and geographical diversification, alongside a growing ... Read the full article
AM Best turns negative on GCC insurance markets amid economic downturn
5th June 2020
Global financial services ratings agency A.M. Best has revised its outlook on the Gulf Cooperation Council (GCC) insurance markets to negative, amid economic downturn across the region and an expectation of fading insurance demand. Lower oil prices and COVID-19 containment measures across the region has resulted in significant economic downturn, notes ... Read the full article
S&P revises PartnerRe outlook to stable from positive as Covéa deal collapses
18th May 2020
S&P Global Ratings has revised its outlook on Bermuda-based reinsurer PartnerRe to Stable from Positive following the collapse of its acquisition by French insurer Covéa. It was revealed last week that the $9 billion deal had been called off after owner EXOR declined to renegotiate the price in the context ... Read the full article
Swiss Re outlook revised to negative by S&P as underwriting deteriorates
8th May 2020
S&P Global Ratings has revised its outlook to negative from stable on global reinsurance giant Swiss Re and its core subsidiaries, citing uncertainty around its underwriting performance. At the same time as revising the outlook on Swiss Re, S&P has affirmed its 'AA-' issuer credit and insurer financial strength ratings on ... Read the full article
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