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 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
Société Centrale de Réassurance’s expansion cited as rating affirmed
3rd August 2022
Fitch Ratings has affirmed Morocco-based Société Centrale de Réassurance (SCR) National Insurance Financial Strength (IFS) Rating at ‘AAA(mar)’, the outlook is stable. SCR has gradually increased its international diversification, as reflected in the share of the gross premiums written outside Morocco of 25% in 2021, up from 22% in 2018. Fitch has ... Read the full article
AM Best downgrades credit ratings of Kingstone
2nd August 2022
Rating agency AM Best has downgraded the Financial Strength Rating to B (Fair) from B+ (Good) and the Long-Term Issuer Credit Rating to “bb” (Fair) from “bbb-” (Good) of Kingstone Insurance Company (KICO). Concurrently, AM Best has downgraded the Long-Term ICR to “b-” (Marginal) from “bb-” (Fair) and its associated securities ... Read the full article
AM Best puts Fidelis under negative review after MGU launch
1st August 2022
AM Best has placed the financial strength ratings of Fidelis and its subsidiaries under review with negative implications, following last week’s announcement that Fidelis plans to set up a new managing general underwriter. Provided regulatory approval is received, Fidelis MGU will be separated from the existing Fidelis companies and will ... Read the full article
AM Best revises outlooks to negative for WAICA Re
1st August 2022
AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B+ (Good) of WAICA Reinsurance Corporation PLC (WAICA Re). Additionally, the rating agency has also revised the Long-Term Issuer Credit Rating of “bbb-” (Good) of the West African reinsurer. Am Best notes that the credit ... Read the full article
Florida enacts temporary reinsurance plan amid Demotech downgrades
27th July 2022
The Florida Office of Insurance Regulation (OIR) has made plans to establish a temporary reinsurance arrangement through Citizens Property Insurance Corporation (Citizens) in the event of what it considers to be "disruptive" financial rating downgrades from regional rating agency, Demotech, Inc. Demotech recently wrote to 17 Floridian insurers to inform ... Read the full article
Florida officials lash back as Demotech writes to 17 insurers over potential downgrades
22nd July 2022
Rating agency Demotech sent a letter to 17 Floridian insurers on Tuesday explaining that they are likely to have their A ratings downgraded on July 26th, a move the Florida Office of Insurance Regulation (OIR) describes as an "example of inconsistent, monopolistic power of a select rating agency". The letter warned ... Read the full article
AM Best removes R&Q companies from being under review with negative implications
21st July 2022
AM Best has removed Accredited Surety and Casualty company, Accredited Specialty Insurance Company, and Accredited insurance (Europe) from being under review with negative implications. Concurrently, the company said it had affirmed Financial Strength Ratings for the firms of A- (Excellent) and Long-Term Issuer Credit Ratings of a- (Excellent). It has also ... Read the full article
Demotech approved as Nationally Recognized Statistical Rating Organization by SEC
19th July 2022
Rating agency and financial analysis firm Demotech, Inc. has now been approved as a Nationally Recognized Statistical Rating Organization (NRSRO) by the United States Securities and Exchange Commission (SEC). The approval came on July 12th and now the recognition by the SEC now positions Demotech alongside the other main financial services ... Read the full article
Moody’s affirms Allianz’s ratings, moves outlook to positive
11th July 2022
Moody’s has affirmed Allianz’s Aa3 insurance financial strength rating (IFSR), moving its outlook to positive from stable. The firm confirmed that it had also affirmed the IFSR of Allianz S.p.A. at A3, of Euler Hermes at Aa3, and of Allianz Life at A1 and changed the outlook on these entities to ... Read the full article
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