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.
FTX collapse a “sobering warning” for insurers: AM Best
6th December 2022
The bankruptcy of cryptocurrency exchange FTX is the latest example of a corporate collapse resulting from governance failures, and carries some tough lessons for insurers, according to AM Best. Although FTX is not an insurance company, the rating agency asserts that the series of events leading to its collapse should nonetheless ... Read the full article
AM Best assigns positive outlook to DUAE market segment
6th December 2022
The global delegated underwriting authority enterprise (DUAE) segment has been assigned a positive outlook by credit rating agency AM Best. Technology, talent and diverse sources of capital continue to drive growth in this channel, the agency added. According to the announcement, the outlook reflects AM Best’s expectation that this distribution channel ... Read the full article
Moody’s turns negative on global P&C sector
5th December 2022
Rating agency Moody’s has decided to change its outlook for global property and casualty (P&C) insurers to negative from stable, citing high claims inflation, the gradual return of claims frequencies to pre-pandemic levels, and rising reinsurance costs. With weaker economic growth and competitive pressures hindering insurers’ efforts to push through offsetting ... Read the full article
Spanish insurance sector outlook to remain neutral: Fitch
5th December 2022
Fitch Ratings’ 2023 sector outlook for Spanish insurance is neutral, as the sector should maintain its strong credit fundamentals in both life and non-life insurance, according to the rating agency’s latest Outlook for the sector. Fitch expects technical margins of the non-life sector to deteriorate in 2023 due to high inflation, ... Read the full article
AM Best revises Lancashire’s outlook to negative and affirms credit ratings
2nd December 2022
Global credit rating agency AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICR of “a+” (Excellent) of Lancashire Holdings Limited and subsidiaries. According to the announcement, these ratings ... Read the full article
AM Best says outlook for global reinsurance stable despite uncertainty
30th November 2022
Rating agency AM Best has announced it is maintaining its stable outlook on the global reinsurance segment, despite market conditions being highly uncertain. AM Best analysts noted that despite most drivers not being seen as stable in isolation, overall a number of positive factors are counterbalanced by negative ones. According to the ... Read the full article
AM Best maintains stable outlook on US life/annuity industry
29th November 2022
In a new report from AM Best, the rating agency has stated that it is maintaining a stable market segment outlook on the US life/annuity insurance industry for 2023. Best cited factors that include favourable earnings, strong liquidity profiles and strong levels of risk-adjusted capitalization among carriers. In the report titled Market ... Read the full article
AM Best upgrades China Re ratings
21st November 2022
AM Best has upgraded the Long-Term Issuer Credit Rating to “a+” from “a” and affirmed the Financial Strength Rating (FSR) of A of China Reinsurance (Group) Corporation (China Re) (China) and its subsidiaries. According to AM Best, China Re’s ratings reflect its balance sheet strength, which AM Best assesses as very ... Read the full article
AM Best maintains negative outlook on Indonesia non-life market
1st November 2022
Global credit rating agency AM Best has announced it is maintaining its negative outlook on the Indonesia non-life insurance market. According to the agency this decision is mainly due to challenges in credit and motor insurance and ongoing macroeconomic uncertainties. Claims frequency normalisation, which has the potential to dampen the segment’s ... Read the full article
Moody’s turns negative on UK P&C
26th October 2022
Moody’s has downgraded its outlook on the UK property and casualty (P&C) insurance sector from stable to negative, reflecting the adverse impact of high inflation on underwriting profitability. The rating agency anticipates that P&C price increases and rising investment yields will be insufficient to restore earnings over the next 12-18 months. At ... Read the full article
KBRA downgrades United’s P&C unit after Ian losses
17th October 2022
KBRA has downgraded its ratings for United Insurance Holdings Corp.’s (UPC Insurance) property and casualty (P&C) subsidiary in the wake of Hurricane Ian and after United announced it will incur $36.4 million of Q3 losses from the storm. The rating agency has downgraded the insurance financial strength rating (IFSR) for ... Read the full article
Moody’s affirms SCOR’s ratings, moves outlook to negative
14th October 2022
Moody’s has affirmed the Insurance Financial Strength Rating (IFSR) of SCOR SE, a P&C and Life reinsurance provider, and its key operating entities at Aa3. Moody's said it has also changed the outlook to negative from stable. According to the rating agency, the affirmation of SCOR’s ratings reflects its very strong ... Read the full article
Moody’s downgrades ratings of Farmers Insurance Group
11th October 2022
Moody's Investors Service has downgraded the insurance financial strength (IFS) rating of Farmers Insurance Exchange, the lead member of Farmers Insurance Group (Farmers) to A3 from A2 and the surplus note rating to Baa3 (hyb) from Baa2 (hyb). Read the full article
No ratings impact on life insurers’ following UK outlook revision: Fitch
10th October 2022
According to Fitch Ratings, the recent revision of the UK’s outlook to negative has no immediate impact on UK life insurers’ ratings. Fitch expects the sector’s strong business profile and capital headroom to continue to underpin ratings in the hypothetical scenario of the UK sovereign rating being downgraded by one notch ... Read the full article
AM Best removes IRB Brasil Re from under review with negative implications
10th October 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 IRB Brasil Re. The outlook assigned to these Credit Ratings is negative. AM Best states that the ratings reflect IRB’s balance sheet strength, ... Read the full article
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