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.
Limited rating impact expected from IFRS 17: Fitch
12th May 2021
Analysts at Fitch Ratings have assured that the introduction of IFRS 17 is expected to have a “limited” impact on ratings and no overall changes to its view on capitalisation for most re/insurers. While IFRS 17 is an important and major accounting change for insurance contracts, in itself it does not ... Read the full article
AM Best revises outlooks for Convex Group’s subsidiaries
23rd April 2021
Rating agency AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Ratings of “a-” of Convex Insurance UK and Convex Re. Both entities are wholly owned subsidiaries of Convex Group, the non-operating holding company. The ratings reflect Convex’s ... Read the full article
Ratings activity normal after H1 stress: Fitch
5th February 2021
Fitch Ratings has reported that its rating activity for Western European re/insurers normalized during the second half of 2020 following a substantial increase in negative rating actions over H1. Coronavirus pandemic-related actions drove a 45% rise in the number of western European insurance rating actions taken in 2020, compared to 2019. Of ... Read the full article
Moody’s turns negative on QBE after $1.5bn loss projection
21st December 2020
Rating agency Moody’s has changed its outlook on Australian re/insurer QBE from stable to negative, after the company forecast that its after-tax losses would amount to USD 1.5 billion over 2020. Analysts said that the downgrade reflects QBE’s earnings volatility, as well as its relatively weak earnings profile compared to ... Read the full article
Resilient profits underpin stable Chinese life outlook: Moody’s
21st December 2020
Moody's Investors Service has assigned a stable outlook to the Chinese life insurance industry for 2021, citing resilient profitability and capitalisation. Large recurring premiums, which reflects the industry's earlier efforts to shift its product focus to long-term regular premium policies, will also improve overall income stability, Moody’s said. And business growth could ... Read the full article
AM Best ends IRB Brasil Re review as management improves
10th December 2020
Am Best has removed IRB Brasil Re’s ‘under review with negative implications’ status following improvements in the company’s enterprise risk management (ERM) and underwriting practices. The rating agency also affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of IRB, although the outlook of ... Read the full article
Global reinsurance outlook remains stable: AM Best
7th December 2020
Rating agency AM Best has maintained a stable outlook on the global reinsurance industry for 2021, as positive pricing momentum and tighter terms and conditions continue to offset negative factors. Analysts currently believe that market hardening will continue for at least two more years, which should help to balance against uncertain ... Read the full article
Fitch stays negative on US life
4th December 2020
Fitch Ratings has maintained its negative outlook on the US life insurance industry for 2021 due to ongoing concerns about the economic fallout from the COVID-19 pandemic. Analysts explained that the economic shock could cause deterioration in key credit metrics over the next one to two years. "Fitch's negative rating outlook for ... Read the full article
Turkish insurance ratings under pressure: Fitch Ratings
16th November 2020
Fitch Ratings has released a new report which shows that Turkish insurers' Financial Strength ratings are under pressure from the Negative Outlooks on the Turkish sovereign and Turkish banks' ratings. Insurers have limited exposure to lira volatility as policyholder liabilities are mostly denominated in local currency, and the sector's technical profitability ... Read the full article
AM Best turns negative on Singapore Re
9th November 2020
Rating agency AM Best has revised its outlook for Singapore Reinsurance Corporation Limited (Singapore Re) from stable to negative, reflecting increasing pressure on the firm’s business profile assessment. In particular, analysts noted that Singapore Re may be overly reliant on a small number of concentrated local cedants, some of which have ... Read the full article
S&P upgrades Flood Re ratings
9th October 2020
S&P Global Ratings has announced that it has now raised its long-term issuer credit and insurer financial strength ratings on Flood Re Ltd. to 'A' from 'A-', resulting in a stable outlook. The upgrade reflects upon the rating agency’s increased confidence in the success and effectiveness of the Flood Re scheme. The ... Read the full article
AM Best reports mixed credit rating changes over H1
6th October 2020
Analysts at AM Best say credit rating activity was mixed over the first half of 2020 with upgrades mostly outnumbering downgrades. Nevertheless, the rating agency found that the percentage of upgrades for US P&C carriers’ Issuer Credit Ratings through mid-year 2020 were down modestly, to 5.1% of rating actions, compared with ... Read the full article
AM Best confirms SCOR ratings
28th September 2020
AM Best has decided to confirm the Financial Strength Rating and Issuer Credit Rating of SCOR as ‘A+ Superior’ and ‘aa-‘, respectively. The rating agency said the move reflects SCOR’s strong balance sheet strength, as well as its operating performance, very favourable business profile and enterprise risk management. In particular, analysts noted ... Read the full article
Market conditions & remedial actions to boost Lloyd’s performance: AM Best
17th July 2020
AM Best has affirmed the credit ratings of Lloyd’s, reasoning that improving market conditions and robust remedial actions will support improvements in performance over the next few years. Analysts maintained the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of ‘a+’ of Lloyd’s (United Kingdom), Lloyd’s Insurance ... Read the full article
Asset stress main driver for rating downturns: Fitch
30th June 2020
Following a review of the impact of COVID-19 on North American re/insurers, Fitch Ratings has determined that asset stress has contributed the most to its recent negative rating outlook changes. Fitch reviewed its entire portfolio of rated North American insurers over the last couple of months, and took rating actions on ... Read the full article
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