Reinsurance News
S&P Global Ratings
Insurance industry demonstrates resilience against market challenges: S&P
26th June 2023
The insurance industry is demonstrating its ability to withstand potential adverse market or economic developments, according to panelists at the 39th Annual S&P Global Ratings Insurance Conference. Amidst concerns such as higher inflation and fluctuating interest rates, industry leaders shared insights on how different segments within the insurance sector can navigate ... Read the full article
S&P forecasts further increases in P&C insurance premiums through 2023
13th June 2023
"We expect P&C insurance premiums for commercial properties, including multifamily, will keep rising through 2023," suggests S&P Global Ratings credit analyst Raymond Kim. Kim's comments stem from a report in which S&P Global Ratings analysed 2020-2022 expense trends on 60 loans on U.S. affordable housing properties receiving low-income housing tax credits. Its ... Read the full article
Rising interest rates bring both benefits and risks to German life insurers: S&P
23rd May 2023
Following ultra-low interest rates over the past decade, German life insurers now face new challenges as they keep rising bringing with them both favourable and unfavourable consequences for the sector, according to a recent report by S&P Ratings. On the one hand, higher rates will mean a rise in net investment ... Read the full article
S&P expects 10% of ratings in re/insurance sector to be affected by its new criteria
9th May 2023
S&P Global Ratings has published a revised version of its proposed methodology for measuring the risk-based capital adequacy of re/insurers, noting that the new criteria could lead to credit rating actions on about 10% of ratings in the sector and affect capital and earnings assessments. The rating agency is also requesting ... Read the full article
UK insurance industry set for revamp: S&P
24th April 2023
Due to uncertain economic conditions, life and non-life insurance companies in the UK need to reconsider their capital allocation, product strategies, and business models, according to S&P Global Ratings. The U.K. insurance industry is set for a revamp. UK insurers need to reconsider their capital allocation strategy due to the current ... Read the full article
Global multiline insurers effectively manage challenging conditions: S&P
17th April 2023
Global multiline insurers (GMIs) with diverse business operations and geographical presence, coupled with competitive advantages and robust capitalisation, are effectively managing challenging circumstances, S&P Global Ratings said in a report. GMIs tend to reap greater advantages from favourable conditions and endure less hardship during difficult times as compared to other insurers, ... Read the full article
S&P affirms SCOR credit ratings despite 2022 net loss
14th March 2023
S&P Global Ratings has affirmed its 'A+' long-term insurer financial strength and issuer credit ratings on SCOR SE and related core subsidiaries despite the company reporting a €301m net loss for the full-year 2022 and a drop in capitalization. The outlook of these credit ratings remains stable, the agency added. SCOR’s negative ... Read the full article
Lloyd’s to continue profitable underwriting momentum, says S&P
9th March 2023
Analysts at S&P Global Ratings anticipate that Lloyd's will continue its profitable underwriting momentum in 2023. The analysts note that Lloyd's strong year-end 2022 underwriting results reflect its focus on underwriting controls and positive price increases. Lloyd's reported a net combined ratio of 91.9% for 2022, compared to 93.5% in 2021, which ... Read the full article
Cyber risk management impacts insurance pricing and credit ratings: S&P
2nd March 2023
Despite a growing interest in cyber insurance, the organisational structures, workplace culture, and wider risk management ecosystems that combine to minimise cyber threats are still often lacking, cyber experts told S&P Global Ratings. They also highlighted that insurers are assessing their clients’ cyber preparedness to determine the cost of their premiums, ... Read the full article
S&P upgrades WTW credit ratings with stable outlook
22nd February 2023
S&P Global Ratings has upgraded its issuer credit rating on Willis Towers Watson PLC (WTW) to 'BBB+' from 'BBB' and gave it a stable outlook. At the same time the credit rating agency upgraded its issue-level ratings on the global brokerage firm’s senior unsecured debt to 'BBB+' from 'BBB'. WTW has sustained ... Read the full article
S&P places CCR RE ratings on watch positive on potential acquisition
14th February 2023
Following the news of CCR RE potential acquisition by a consortium of French mutuals, S&P Global Ratings has placed its 'A-' issuer credit and financial strength ratings on CCR RE, and its issue ratings on the reinsurer's debt, on CreditWatch with positive implications. On February 8, 2023, French-based Caisse Centrale ... Read the full article
Creditworthiness of Japan’s insurers likely to remain stable in 2023: S&P
13th February 2023
With inflation and its consequences roiling global financial markets, preparations for tougher times by Japan’s insurers are looking to have paid off, according to S&P Global Ratings. In S&P’s view, the creditworthiness of Japan’s insures will likely remain stable in 2023. With financial markets likely to continue to fluctuate due to central ... Read the full article
Insurance brokers begin 2023 on sound footing: S&P
1st February 2023
Analysts at S&P Global Ratings have suggested that insurance brokers & service providers have started 2023 on sound footing despite the looming recession and tightening financial conditions. The rating agency's sector view for global insurance services is largely stable, reflecting resilient industry fundamentals for most subsectors. S&P expects limited rating changes ... Read the full article
Reinsurers fared well during Jan renewals and pricing momentum will persist: S&P
30th January 2023
While all parties found the January 1st, 2023, reinsurance renewals very challenging, reinsurers were disciplined and fared well on the back of further market hardening, and it's expected that reinsurance pricing momentum will continue for the upcoming renewals in 2023, according to S&P Global Ratings. "It appears that the hard market ... Read the full article
Toa Re’s core companies downgraded to ‘A’, outlook remains stable: S&P
30th January 2023
S&P Global Ratings has lowered from 'A+' to 'A', its financial strength and long-term issuer credit ratings on Toa Reinsurance Co. and its two oversea subsidiaries, US-based Toa Reinsurance Co. of America and Switzerland-based Toa 21st Century Reinsurance Co. Ltd. The outlooks on the ratings remain stable. S&P said that the ... Read the full article
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