Reinsurance News
ratings
AM Best revises Fairfax’s outlooks to positive on improved earnings
10th May 2024
AM Best has revised the outlooks to positive for Fairfax Financial Holdings, its subsidiaries, and Allied World, reflecting the improved earnings profile of the consolidated group. The rating agency noted that Fairfax deployed significant cash into highly rated fixed income instruments as interest rates increased in 2022, which resulted in dividend ... Read the full article
Moody’s upgrades Assured Guaranty’s IFS with stable outlook
9th May 2024
Moody’s Ratings (Moody’s) has upgraded Assured Guaranty Corp.’s (AGC) insurance financial strength (IFS) rating to A1 from A2, and assigned an stable outlook for the firm and its subsidiaries. According to the announcement, the upgrade of AGC’s IFS rating reflects the company’s strong risk-adjusted capital adequacy, the significant improvement in the ... Read the full article
Moody’s assigns stable rating outlook to Truist Insurance
21st March 2024
Moody’s Ratings has assigned a B3 corporate family rating and a B3-PD probability of default rating to the Charlotte domiciled, Truist Insurance Holdings, LLC (TIH), with a stable rating outlook. The rating company has also assigned a B2 rating to a $4 billion seven-year senior secured first-lien term loan and a ... Read the full article
AM Best assigns Arch Group Re A+ rating
14th March 2024
Credit ratings agency AM Best has assigned Arch Group Reinsurance Ltd. (Bermuda) a Financial Strength Rating of A+ (Superior) and a Long-Term Issuer Credit Rating of “aa-” (Superior). The outlook assigned to these ratings is stable. The ratings agency added that these reflect the reinsurer's balance sheet strength which has been ... Read the full article
Marco Re secures A- rating from AM Best
27th February 2024
Rating agency AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Marco Re Limited (Guernsey), simultaneously assigning a stable outlook to these ratings. Macro Re, a wholly-owned subsidiary of Marco Capital Holdings Limited (Malta), was launched earlier this ... Read the full article
Downgrade move on 777 Re credit ratings reflect “very weak” balance sheet: AM Best
19th February 2024
AM Best has downgraded 777 Re’s, the Bermuda-based reinsurance entity of investment firm 777 Partners, credit ratings and maintained its under review with negative implications status. The company offers reinsurance on active and run-off blocks of life insurance and annuity business. 777 Re’s Financial Strength Rating has been downgraded to ... Read the full article
AM Best amends Canopius subsidiaries outlooks to stable
8th February 2024
AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Canopius US and Canopius Re, wholly owned subsidiaries of Canopius Group. According to AM Best, the ratings reflect Canopius’ balance sheet strength, ... Read the full article
KBRA revises Conifer’s outlook to stable, downgrades credit ratings
2nd February 2024
Credit rating agency KBRA has downgraded Conifer Holdings and its subsidiaries credit ratings, and revised its negative outlook to stable. Conifer Insurance Company (CIC) financial strength ratings (IFSR) were downgraded to BBB from BBB+ for, and to BBB- from BBB+ for White Pine Insurance Company (WPIC) (together, referred to as Conifer). Additionally, ... Read the full article
AM Best revises Ocean Re’s outlooks to Positive and affirms Credit Ratings
26th January 2024
AM Best has revised the outlooks to positive from stable of Ocean Re, a Barbados-based reinsurer, a move that recognizes its disciplined underwriting. The rating agency also affirmed the reinsurer’s Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long Term ICR) of “a-” (Excellent). “The Credit Ratings ... Read the full article
Moody’s turns negative on ten Chinese insurers following sovereign rating action
7th December 2023
Moody's Investors Service has changed to negative from stable the outlooks on nine Chinese insurers and a related overseas subsidiary. The credit rating agency has also maintained stable outlooks on three of the insurers, and affirmed all the ratings and assessments of the affected thirteen insurers. According to Moody’s these rating actions ... Read the full article
AM Best acknowledges improvements to IRB Brasil Re capital adequacy
29th November 2023
AM Best has affirmed the credit ratings of RB-Brasil Resseguros S.A. (IRB) and assigned a negative outlook, as the agency acknowledges the reinsurer’s capital adequacy improvements. IRB’s Financial Strength Rating is A- (Excellent) and its Long-Term Issuer Credit Rating is “a-” (Excellent). According to the announcement, these ratings reflect the reinsurer’s balance ... Read the full article
S&P places ratings on 15 NOHCs of Bermuda-based re/insurers on CreditWatch negative
24th November 2023
S&P Global Ratings has placed its long-term issuer credit ratings on 15 non-operating holding companies (NOHCs) of Bermuda-based reinsurers and insurers on CreditWatch with negative implications. The credit rating agency has also placed the issue ratings on the securities issued or guaranteed by these NOHCs, on CreditWatch with negative implications. Among the ... Read the full article
AM Best removes Clear Blue ratings from under review with negative implications following Vesttoo issues
22nd November 2023
AM Best has removed from under review with negative implications and affirmed Credit Ratings of Clear Blue Insurance Group Members, noting that the fronting carrier has managed to replace reinsurance capacity and raise $25mn in capital following the Vesttoo scandal. Clear Blue’s ratings were placed under review with negative implications ... Read the full article
Fitch turns positive on Swiss Re following strongly improved financial performance
22nd November 2023
Global ratings agency Fitch has revised reinsurance giant Swiss Re's outlook to positive from stable, reflecting the firm's "strongly improved financial performance and better capitalisation and leverage." Alongside the revision to positive, Fitch has affirmed Swiss Re's Insurer Financial Strength (IFS) Rating at 'A+' (Strong) and Long-Term Issuer Default Rating (IDR) ... Read the full article
AM Best affirms China Re’s credit ratings
21st November 2023
China Reinsurance Group Corporation (China Re) and its subsidiaries have had their Financial Strength Rating (FSR) of A (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a+” (Excellent) affirmed by AM Best, with a stable outlook assigned. According to the ratings agency, this affirmation has been driven by ... Read the full article