Reinsurance News
ratings
Ratings are a critical component of the insurance and reinsurance market, providing important indications of financial strength and creditworthiness for insurers and reinsurers.
Read all of our insurance and reinsurance ratings news below.
Moody’s downgrades Nationwide P&C financial strength
13th November 2023
Moody’s has downgraded the Nationwide Mutual Insurance Company (NMIC) and its property & casualty affiliates, Nationwide P&C, insurance financial strength rating to A2 from A1, and downgraded NMIC’s surplus notes rating to Baa1 (hyb) from A3 (hyb). The rating agency has also affirmed the insurance financial strength ratings of Nationwide Life ... Read the full article
AM Best upgrades Oceanview’s credit rating
9th November 2023
Global credit rating agency AM Best has upgraded Oceanview Holdings' Financial Strength Rating to “A”(Excellent) and its Long-Term ICR to “a” (Excellent) from "a-", and revised the outlook of these ratings from stable to positive. AM Best assesses the balance sheet of the Bermuda company as "very strong." Oceanview is the ultimate ... Read the full article
Fitch affirms National IFS of 7 Sri Lankan insurers
19th October 2023
Fitch Ratings has affirmed the National Insurer Financial Strength (IFS) Ratings of seven Sri Lankan insurers, removed them from Rating Watch Negative (RWN), and assigned them a stable outlook. This rating move includes Sri Lanka Insurance Corporation Limited (SLIC), at 'A(lka)'; Continental Insurance Lanka Limited, at 'A-(lka)'; HNB Assurance PLC, at ... Read the full article
Fitch has upgraded Oman Re’s IFS rating to ‘BBB-‘
12th October 2023
Fitch Ratings has upgraded Oman Reinsurance Company SAOG's (Oman Re) Insurer Financial Strength (IFS) rating to 'BBB-' from 'BB+, and assigned it an stable outlook. According to the announcement, this rating decision continues to reflect Oman Re's exposure to investment risk via its asset concentration in the Omani banking system. It also ... Read the full article
AM Best moves Mexico’s insurance industry to stable from negative
28th September 2023
Credit rating agency AM Best has revised its outlook on Mexico’s insurance industry to stable from negative. According to the announcement, this is given the strong recovery in Mexico’s insurance industry amid expected GDP growth in 2023. In its Best’s Market Segment Report, “Market Segment Outlook: Mexico Insurance,” the rating agency states ... Read the full article
AM Best revises Arab Re’s outlook to stable and affirms credit ratings
1st September 2023
AM Best has revised the outlooks to stable from negative and affirmed the credit ratings of Lebanon-based Arab Reinsurance Company SAL (Arab Re). The affirmed Financial Strength Rating of B- (Fair) and the Long-Term Issuer Credit Rating of “bb-” (Fair) reflect Arab Re’s balance sheet strength, which AM Best assesses as ... Read the full article
Litmus advises re/insurers to run prototype of S&P’s new capital model ahead of adoption
1st September 2023
Litmus Analysis recommends re/insurers run the prototype of S&P’s new capital model on themselves as early as possible to increase their time to put a persuasive case together to present to the agency ahead of the UCO resolution rating committee in case of downgrade risk. Analysts urge re/insurers to do so ... Read the full article
S&P revises Echo Re outlook to positive on improved operating performance
30th August 2023
S&P Global Ratings has revised its outlook on Switzerland-based Echo Re to positive from stable, a move that reflects the reinsurer’s improved operating performance. The rating agency also affirmed Echo Re’s 'A-' long-term issuer credit and financial strength ratings. “The operating performance of Echo Rueckversicherungs-AG (Echo Re) is improving on the back ... Read the full article
Farmers Insurance Group’s ratings placed on review for downgrade by Moody’s
22nd August 2023
Moody’s has placed Farmers Insurance Group’s ratings on review for downgrade, a move that reflects the rating agency’s concerns around insurer’s underwriting results in its core personal lines and its capital adequacy. The review includes Farmer’s A3 insurance financial strength (IFS) rating and Baa3 (hyb) surplus notes ratings. As well as the ... Read the full article
S&P revises Munich Re’s outlook to positive on improving diversification
17th August 2023
S&P Global Ratings has affirmed its 'AA-' issuer credit and insurer financial strength ratings on Munich Re, revising its outlook to positive from stable, citing the German reinsurer's ability to defend its excellent competitive position and conservative capital management via further earnings diversification by divisions. Referring to Munich Re's H1 ... Read the full article
S&P revises Swiss Re outlook to stable from negative on continued performance improvement
16th August 2023
S&P Global Ratings today revised its outlook to stable from negative on Swiss Re and its core subsidiaries, as well as affirmed the ratings on these entities. According to the rating agency, the outlook revision to stable reflects improvements in Swiss Re's underwriting performance since 2021 and its expectation that the ... Read the full article
AM Best takes various credit actions on Allstate and its subsidiaries
10th August 2023
AM Best has taken various credit rating actions on the Allstate Insurance Corporation and its subsidiaries and assigned a stable outlook to most of them. The credit rating agency has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “aa-” (Superior) from “aa” (Superior) and affirmed the Financial Strength Rating (FSR) ... Read the full article
Over 10% of S&P’s re/insurance ratings to be placed “under criteria observation”: Litmus Analysis
8th August 2023
More than 10% of S&P’s insurance ratings to be placed “under criteria observation” (UCO) as a result of the adoption of the rating agency’s new capital model criteria, according to a new report by Litmus Analysis. As S&P’s Request for Comment (RfC) period for the proposed changes has ended, the agency ... Read the full article
AM Best assigns credit ratings to UK hybrid fronting carrier Bridgehaven Insurance
7th August 2023
Bridgehaven Insurance, a recently launched hybrid fronting carrier, has secured an A- (Excellent) Financial Strength Rating and a Long-Term Issuer Credit Rating of “a-” (Excellent) from AM Best. The outlook assigned to these ratings is stable. Launched in July 2023, Bridgehaven has a vision to become the leading UK hybrid ... Read the full article
AM Best assigns “Excellent” credit ratings to newly launched Enact Re
2nd August 2023
US private mortgage insurance provider, Enact has launched a new Bermuda-based reinsurer, Enact Re Ltd. As a newly non-exclusive affiliate, it intends to operate primarily as a mortgage reinsurer but could eventually broaden its reach to write third-party business too. Enact Re received its class 3A Bermuda (re)insurance licence in May 2023. ... Read the full article
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