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 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
Florida Farm Bureau’s ratings placed under review with negative implications by AM Best
20th November 2023
Gainesville domiciled Florida Farm Bureau Group has had its Financial Strength Rating of B++ (Good) and Long-Term Issuer Credit Ratings of “bbb+” (Good) placed under review with negative implications by AM Best, following a considerable decline in the group’s key balance sheet strength metrics. Florida Farm Bureau Casualty Insurance Company and ... Read the full article
KBRA assigns rating to new Florida insurer Orange
16th November 2023
Credit rating agency KBRA has assigned Orange Insurance Exchange, a new Florida-based insurer, an Insurance Financial Strength Rating (IFSR) of BBB, and given it a Stable Outlook. Launched in early November, Orange is a new domestic reciprocal property and casualty insurance company headquartered in Newberry, Florida. Headed by Chief Executive Officer, ... Read the full article
S&P revises SiriusPoint ratings outlook to ‘Stable’
14th November 2023
Global specialty re/insurer SiriusPoint, has had its ratings outlook revised from ‘Negative’ to ‘Stable’ by S&P Global Ratings (S&P). According to the announcement, this move reflects the credit rating agency’s” expectation that SiriusPoint will continue to post strong and improving underwriting results in 2023-2025, with combined ratios around 95% and capital ... Read the full article
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
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