Reinsurance News
ratings
S&P upgrades Sompo International’s core operating subsidiaries to A+
1st May 2018
S&P Global Ratings has upgraded its long-term issuer credit and financial strength ratings for Sompo International Holdings’ (SIH) core operating companies, from A to A+. SIH and its operating subsidiaries are also considered to have a stable outlook, and S&P raised its long-term issuer credit and senior debt ratings on SIH ... Read the full article
Florida Specialty rated after loss portfolio transfer and reinsurance with Sirius
5th April 2018
Florida Specialty Insurance Company has been assigned a Financial Stability Rating (FSR) of A, Exceptional, following the implementation of a new action plan that includes a loss portfolio transfer and reinsurance programme with Sirius America Insurance Company. The loss portfolio transfer applies to Florida Specialty’s net losses, while the reinsurance relates ... Read the full article
Spain’s re/insurers to benefit from GDP growth, improved sovereign outlook: S&P
4th April 2018
The Spanish insurance and reinsurance sector is set to benefit from an improving economic outlook for the country, as GDP growth and an improved sovereign outlook flow through to re/insurers, according to Standard & Poor's. Rating agency S&P has upgraded the Spanish sovereign credit ratings to 'A-' from 'BBB+' on economic ... Read the full article
European re/insurers stable despite intensely competitive market: A.M. Best
2nd February 2018
Western European re/insurers enjoy stable ratings and an operating environment that's showing signs of picking up as economic activity increases across the Eurozone, but players are still walking the tightrope of a saturated and highly competitive, pressurised market. Despite limited growth prospects and a continued backdrop of low investment returns, A.M. ... Read the full article
MENA offers attractive growth opportunities despite growing headwinds: A.M. Best
1st February 2018
The Middle East & North African (MENA) region offer attractive growth opportunities, however the credit quality of re/insurers operating in the territory is likely to be tested over the next few years as a result of the increasing geopolitical uncertainty, A.M. Best said in a Special Report on MENA. Analysts pointed ... Read the full article
Demotech warns Florida insurers could face rating actions
7th February 2017
Rating agency Demotech has announced it will suspend its recommendations for Florida property insurers after two recent court decisions, Johnson and Sebo, have intensified the impact from the assignment of benefits (AOB) epidemic. The rating agency has advised Florida insurers to review their protocols, saying the court decisions had revised claims ... Read the full article
Operating landscape a new reality for reinsurers: A.M. Best
11th January 2017
Global reinsurance companies are faced with a new market reality of lower returns and increased dependency on underwriting for profits, explains ratings agency A.M. Best. The softened reinsurance landscape has persisted for some time now, and reinsurers are finding it increasingly difficult to achieve the kind of returns on their underwriting ... Read the full article
Istmo Re downgraded on “regulatory intervention” by Panama
14th December 2016
Panamanian domiciled reinsurance firm Istmo Re, or Istmo Compañía de Reaseguros, Inc. to give its full name, has had its Financial Strength Rating downgraed to a Non-Rating Designation of E (Under Regulatory Supervision) from B (Fair) and the Long-Term Issuer Credit Rating to “e” from “bb+” by A.M. Best after ... Read the full article
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