Reinsurance News
S&P Global Ratings
S&P expects reinsurers to produce strong results in 2024-2025 amid still-favourable pricing
30th January 2025
S&P Global Ratings, a provider of credit ratings, research, and risk analysis, has provided a comprehensive review of the global reinsurance sector, forecasting promising earnings for the industry over the next couple of years. The report outlines a stable outlook for the reinsurance sector, citing strong operational performance and robust capitalisation, ... Read the full article
LA wildfires likely to heavily impact insurance rates: S&P
24th January 2025
According to a recent report from S&P Global Ratings, the ongoing Los Angeles wildfires could significantly impact homeowners, with insurance rates in the region likely to be heavily impacted. S&P predicts that, following the event, property insurers will likely increase rates and/or limit coverage options. These measures may extend beyond California ... Read the full article
Impact of LA wildfires expected to be manageable for global reinsurers: S&P
10th January 2025
S&P has noted that while significant losses from the wildfires engulfing Los Angeles County in the first two weeks of 2025 could rapidly deplete the catastrophe budgets of U.S. primary insurers, the impact will be manageable for global reinsurers, with no major impact on earnings. S&P said in a new report, ... Read the full article
Re/insurers’ operations exposed to cyber threats, says S&P
5th December 2024
According to a new report by S&P Global, insurers and reinsurers are exposed to cyber threats, with the potential for a direct attack to impact their operations, potentially costing a significant portion of their average annual earnings. Re/insurers face various operational cyber risks, including IT system disruptions, outages of third-party IT ... Read the full article
S&P revises Africa Re’s outlook to Positive
3rd December 2024
S&P Global Ratings has revised the African Reinsurance Corporation’s (Africa Re) financial rating outlook to Positive from Stable while affirming its A- global scale financial strength ratings. The rating agency highlighted Africa Re’s strong position in the African reinsurance market, noting its ability to sustain robust operating performance over the next ... Read the full article
S&P projects cyber insurance premiums to hit $23bn by 2026
28th November 2024
S&P Global Ratings, a provider of credit ratings, research, and analytics, maintains a stable outlook on the global cyber insurance and reinsurance industry, supported by solid underwriting profitability in 2023 and 2024, with expectations for this trend to continue into 2025. The industry's stability is further reinforced by substantial increases in ... Read the full article
Reinsurers to remain a ‘pillar’ in development of effective cyber market: S&P
27th November 2024
As per a new report from S&P Global, the reinsurance market is set to remain extremely important in providing capital and capacity to support further revenue growth in the cyber insurance market. "In our view, reinsurers will remain an important pillar in the development of a sustainable and effective cyber insurance ... Read the full article
Robust 2023 results fuel reinsurers’ earnings prospects: S&P
22nd November 2024
The 2024-2026 outlook for reinsurers’ earnings looks positive following the robust operating results seen in 2023 where reinsurers achieved their highest profits in years, S&P analysts stated in a recent report. Growth in 2023 was fueled by decade-high investment yields and consistent rate increases in property and catastrophe lines (short-tail lines). The ... Read the full article
Insurers’ reaction to cat events could impact issuer and instrument credit quality: S&P
22nd November 2024
The overall ability of insurance to offset financial risks stemming from catastrophic events, including climate-related events, is relevant to the creditworthiness of issuers and debt instruments outside of the insurance sector, according to S&P Global Ratings. In a new report released by the firm, it states how insurers do not “bear the ... Read the full article
Spain flooding to have limited impact on private re/insurers despite €3.5bn loss: S&P
8th November 2024
According to S&P Global Ratings, the deadly flash floods that hit the Valencia region of Spain will have "limited effects" on private insurers and reinsurers, given that the Consorcio de Compensación de Seguros (CCS), the institution attached to the Ministry of Economy, Trade, and Business, will cover most of the ... Read the full article
P&I clubs expected to raise rates by 5% amid rising claims in 2025: S&P
25th October 2024
S&P Global Ratings, a provider of credit ratings, research, and analytics, forecasts that most Protection and Indemnity (P&I) clubs will achieve near-breakeven results for the financial year ending February 20, 2025. The 12 P&I clubs in the International Group (IG), which collectively underwrite approximately 90% of the global oceangoing fleet's liability ... Read the full article
Catastrophe re/insurance demand in Brazil to grow following Rio Grande do Sul floods: S&P
17th October 2024
Demand for reinsurance and insurance catastrophic coverage in Brazil is expected to grow following the floods that struck the Brazilian state of Rio Grande do Sul earlier this year, says S&P Global Ratings. In a new report, S&P noted that while it does not expect the floods to significantly dent Brazilian ... Read the full article
S&P highlights Florida’s $10.4 bn safety net amid Hurricane Milton aftermath
11th October 2024
S&P Global Ratings, a provider of credit ratings and financial analytics, is closely monitoring the situation surrounding Hurricane Milton. The organisation believes that Florida has effectively strengthened its reserves and liquidity in preparation for extreme weather events. Additionally, the advanced planning by state officials suggests that collaboration among state agencies and local ... Read the full article
FM receives upgraded rating of AA- from S&P, post rebranding
11th October 2024
Commercial property insurer, FM Global which recently rebranded as FM, has received an upgrade in its financial strength rating to ‘AA-’ from ‘A+,’ by S&P Global Ratings, reflecting its ‘very strong’ competitive profile, innovative risk engineering expertise, supported by its innovative loss prevention solutions, and prominence in the large commercial ... Read the full article
Milton may deplete P&C insurers’ cat budgets, but stay within reinsurers’: S&P
10th October 2024
Given that many primary P&C insurers are already near their 2024 catastrophe budgets due to H1 losses, S&P believes Hurricane Milton, along with other weather-related losses, could fully exhaust these budgets. However, reinsurers may still have room in their catastrophe budgets to absorb the combined losses from Milton and other ... Read the full article
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