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CFOs of European insurers concerned about muted economic growth: Moody’s
9th April 2019
Low economic growth and market volatility are the two top concerns for the Chief Financial Officers (CFOs) of European insurers. At the same time, insurers across the continent are increasingly leveraging technology in order to cut costs, according to Moody's Investors Service's European Insurance CFO survey. Low economic growth tops the ... Read the full article
Moody’s changes AXIS Capital’s ratings’ outlook to negative
4th April 2019
Moody's Investors Service has changed the ratings' outlook of AXIS Capital Holdings Limited from stable to negative, citing lower capitalisation and higher operating and financial leverage relative to peers. At the same time, Moody's has affirmed the ratings of AXIS Capital and its subsidiaries, including the Baa1 guaranteed senior debt of its ... Read the full article
A.M. Best stable on UK life sector, expects strong near term growth opportunities
3rd April 2019
International financial services ratings agency, A.M. Best, has a stable outlook on the UK life insurance sector, and is expecting a focus on annuities and defined contribution pensions to drive strong near-to-medium-term growth opportunities. Key products in the UK life insurance industry are experiencing healthy growth and profitability, but A.M. Best ... Read the full article
Despite the confusion, UK-rated insurers are generally ready for Brexit: A.M. Best
19th March 2019
As widespread uncertainty, confusion and an overall lack of clarity continues to underpin the UK's departure from the European Union (EU), international financial services ratings agency, A.M. Best, has said that whatever the outcome, UK-rated insurers are generally well prepared for Brexit. Exactly when the UK is to leave the EU ... Read the full article
Canopius US Insurance, Canopius Re ratings placed under review by A.M. Best
18th March 2019
In light of worse-than-expected operating results for 2018 at Canopius AG, A.M. Best has placed under review with negative implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" of Canopius US Insurance, Inc. and Canopius Reinsurance AG. Both Canopius US Insurance and Canopius Reinsurance ... Read the full article
Rating downgrades for U.S P&C re/insurers doubled in 2018, says A.M. Best
7th March 2019
Credit rating downgrades in the U.S property and casualty (P&C) re/insurance segment more than doubled year over year in 2018, according to a new A.M. Best report. The rating agency said factors such as catastrophic weather losses, challenging pricing in competitive lines of business and capital market volatility had reversed a ... Read the full article
Travelers’ post-Brexit Dublin unit obtains A++ strength rating
5th March 2019
Travelers Insurance Designated Activity Company (TIDAC) (Ireland), the newly established European subsidiary of Travelers Companies, Inc., has obtained a Financial Strength Rating of A++ (Superior) from A.M. Best. Travelers recently obtained a licence from the Central Bank of Ireland to write business from the Dublin-based unit, which will ensure continuity ... Read the full article
Sirius International’s Nasdaq listing reinforces independence from parent, says A.M. Best
19th February 2019
A.M. Best has commented that the credit ratings of Sirius International Insurance Group, Ltd (SIIG) and its main subsidiaries are unchanged, noting that its November 2018 Nasdaq listing reinforces its independence from its ultimate parent, China Minsheng Investment Group Corp., Ltd. (CMIG). The comments from global financial services ratings agency, A.M. Best, ... Read the full article
Hannover Re’s Glencar Insurance receives A+ rating from A.M. Best
14th February 2019
Glencar Insurance Company (GIC), a newly established subsidiary of German reinsurer Hannover Re, has received a financial strength rating of A+ (Superior) from A.M. Best. The rating agency also assigned GIC a long-term issuer credit rating of “aa”, in addition to a stable outlook. A.M. Best explained that the ratings reflected GIC’s ... Read the full article
S&P maintains stable outlook on U.S health in 2019
10th January 2019
S&P Global Ratings has maintained a stable outlook on the U.S health insurance sector for 2019, with a combination of favourable business conditions and financial factors offsetting key concerns and risks. Analysts noted that strong payroll employment continues to bolster the commercial segment, with the ageing U.S population driving Medicare Advantage ... Read the full article
Negative outlook placed on Brazil reinsurance market: A.M. Best
14th December 2018
Brazil’s reinsurance market has been given a negative market segment outlook by AM Best, with the rating agency citing persistent macroeconomic and political uncertainty; a declining interest rate environment, which has led to lower investment income; foreign exchange fluctuations; and evolving reinsurance market conditions. AM Best believes that, despite the negative ... Read the full article
Hamilton’s investments with Two Sigma help generate consistent net income: KBRA
13th December 2018
Kroll Bond Rating Agency (KBRA) has assigned a stable outlook and an insurance financial strength rating (IFSR) of A to Bermudian property and casualty (P&C) reinsurer Hamilton Re, citing the strengths of its investment fund. The company’s TS Hamilton Fund is managed by Two Sigma and has allowed Hamilton Re to ... Read the full article
A.M. Best stable on reinsurance for 2019
6th December 2018
Global ratings agency A.M. Best has revised its outlook for the global reinsurance industry to stable from negative for 2019, driven by the convergence of traditional and third-party, or alternative reinsurance capital among non-life players. The ratings agency's revised outlook is also a result of more stable pricing, albeit at levels ... Read the full article
A.M. Best to set up post-Brexit hub in Amsterdam
4th December 2018
A.M. Best has announced plans to establish a new subsidiary in Amsterdam to ensure it can continue to deliver rating services throughout the European Union (EU) once the UK leaves in March 2019. The new subsidiary, called A.M. Best (EU) Rating Services B.V., has now been registered as a credit rating ... Read the full article
Caribbean insurers’ comprehensive reinsurance use protects surplus: A.M. Best
24th July 2018
Despite the devastating and costly impacts of 2017 catastrophe events on the Caribbean, which includes hurricanes Irma and Maria, the region's insurance sector saw its surplus decline by just 4% as a result of its comprehensive reinsurance utilisation, according to A.M. Best. Speaking with AMBestTV, Ricardo Longchallon, a Senior Financial Analyst ... Read the full article
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