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.
AM Best places Fairfax’s Wentworth under review with negative implications
5th September 2022
AM Best has placed under review with negative implications the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Wentworth Insurance Company Limited. The Credit Ratings have been placed under review with negative implications due to volatility in Wentworth’s risk-adjusted capitalization position, says Best, ... Read the full article
AM Best removes Vault Group members from under review with negative implications
31st August 2022
AM Best has removed from under review with negative implications and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of members of the Vault Insurance Group. The outlook assigned to these Credit Ratings is negative. The ratings reflect Vault’s balance sheet strength, ... Read the full article
Peak Re’s insurance financial strength rating downgraded by Moody’s
30th August 2022
Peak Re has seen its insurance financial strength rating (IFSR) downgraded to Baa1 from A3 by Moody’s. Moody's said it has also downgraded the backed subordinated debt rating on the subordinated perpetual securities issued by Peak Re (BVI) Holding Limited to Baa3(hyb) from Baa2(hyb). These securities are irrevocably and unconditionally guaranteed ... Read the full article
IFRS 17 strategy changes could affect ratings, warns S&P
26th August 2022
Analysts at S&P Global Ratings have warned that ratings actions could be taken if insurers and reinsurers make significant changes to their risk appetite or capitalization strategies following the implementation of IFRS 17 in 2023. International Financial Reporting Standards (IFRS) 17 will reshape insurance accounting from January 1st in a move ... Read the full article
AM Best assigns positive credit ratings to Generali Hong Kong
24th August 2022
Ratings agency, AM Best has assigned Generali Hong Kong a Financial Strength Rating of “A” (Excellent) and a Long-Term Issuer Credit Rating of “a+” (Excellent). The outlook assigned to these ratings is stable. The ratings reflect Generali Hong Kong’s inclusion as a member of the lead rating unit of Assicurazioni Generali S.p.A. ... Read the full article
National Personal Auto / Personal Property rates increase in all provinces: Applied Systems
15th August 2022
Applied Systems has announced the second quarter of 2022 results of the Applied Commercial Index, the Canadian insurance industry’s premium rate index. The rating company discovered that quoted premiums for both Personal Auto lines and Personal Property lines increased year over year and quarter over quarter. In Q2 of 2022, Personal Auto ... Read the full article
Moody’s assesses Italian insurers after downgrading government outlook
11th August 2022
Following Moody’s change in outlook on the government of Italy (Baa3) to negative from stable, the agency has taken a number of rating actions on three Italian insurers and related subsidiaries. Generali’s A3 insurance financial strength rating (IFSR) was affirmed with a stable outlook; and a similar action was taken on ... Read the full article
Malaysia’s non-life insurance segment outlook remains stable: AM Best
11th August 2022
AM Best has maintained a stable outlook on the Malaysian non-life insurance segment on account of its underwriting discipline and the market’s recovery following the economic crisis caused by COVID-19. The Malaysia non-life insurance market has shown modest expansion, with a five-year average compound annual growth rate (CAGR) of 1.8% in ... Read the full article
Fidelis underwriting separation will limit its competitive position in the market: S&P
10th August 2022
Following the announcement that Bermuda-based re/insurer Fidelis will delegate its underwriting authority to newly created Fidelis Managing General Underwriter (Fidelis MGU), S&P Global Ratings has revised the re/insurer outlook to stable from positive. As Fidelis is delegating all its underwriting to Fidelis MGU and that Fidelis Balance Sheet Companies will exclusively ... Read the full article
AM Best upgrades Singapore Re’s credit ratings
9th August 2022
Rating agency AM Best has upgraded Singapore Re’s Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) from “a-” (Excellent), and gave them a stable outlook. According to the rating agency, they reflect Singapore Re’s balance sheet strength, which AM Best assessed ... Read the full article
Wilton Re’s ratings downgrade related to revision in ownership uplift: Fitch
8th August 2022
Fitch Ratings has downgraded Wilton Re’s Insurer Financial Strength (IFS) ratings amidst revision in ownership uplift. Wilton Re’s IFS rating has been downgraded to 'A' from 'A+'. Fitch has also downgraded Wilton Re’s Long-Term Issuer Default Rating (IDR) to 'BBB+' from 'A-'. The rating outlook is stable. The downgrade reflects a revision ... Read the full article
Everspan gets ratings for four of its program insurers
8th August 2022
AM Best has assigned a Financial Strength Rating of A- and a Long-Term Issuer Credit Rating of “a-” to four subsidiaries of the Everspan Group. Providence Washington Insurance Company is considered part of the Everspan Group rating unit based on its role and importance to the group’s strategy, shared day-to-day operations, ... Read the full article
Fidelis underwriting separation untested with execution risk potential: Moody’s
5th August 2022
Moody’s has assigned a Baa2 Long-Term Issuer rating to Fidelis Insurance Holdings Limited (FIHL) and A3 Insurance Financial Strength (IFS) ratings to its key (re)insurance operating subsidiaries, with a stable outlook for the group. Even though these ratings reflect Fidelis’ strength and quality, Moody’s stated that the separation of Fidelis’ underwriting ... Read the full article
Centauri carriers’ A rating affirmed as Demotech announces revisions
4th August 2022
The Centauri insurance companies, which operate in Hawaii and along many of the coastal states in the U.S., have had their 'A' (Exceptional) rating affirmed by Demotech, a move it says reflects disciplined underwriting and its robust reinsurance program. The anticipated changes to ratings of property insurers with a Florida focus ... Read the full article
Travelers Syndicate 5000 gets ratings downgrade
3rd August 2022
Syndicate Research Limited (SRL) has downgraded the B^ (Average), negative outlook, Continuity Opinion of Lloyd's syndicate 5000 (Travelers Syndicate Management Limited) to B-^ (Below Average). SRL explained that the downgrade was made in light of the syndicate’s underperformance relative to its B (Average) peer group in recent years, and assigned a ... Read the full article
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