Reinsurance News
S&P Global Ratings
Reinsurance pricing “should be increased further for cyber”: S&P Global at RVS 2023
11th September 2023
Speaking at S&P Global Ratings' briefing at RVS Monte Carlo 2023, Johannes Bender director and lead analyst stated that "reinsurance pricing should be increased further for cyber." During the briefing he addressed how cyber is one of the fastest growing lines of business within the industry, highlighting the $12 billion in ... Read the full article
Litmus advises re/insurers to run prototype of S&P’s new capital model ahead of adoption
1st September 2023
Litmus Analysis recommends re/insurers run the prototype of S&P’s new capital model on themselves as early as possible to increase their time to put a persuasive case together to present to the agency ahead of the UCO resolution rating committee in case of downgrade risk. Analysts urge re/insurers to do so ... Read the full article
S&P revises Echo Re outlook to positive on improved operating performance
30th August 2023
S&P Global Ratings has revised its outlook on Switzerland-based Echo Re to positive from stable, a move that reflects the reinsurer’s improved operating performance. The rating agency also affirmed Echo Re’s 'A-' long-term issuer credit and financial strength ratings. “The operating performance of Echo Rueckversicherungs-AG (Echo Re) is improving on the back ... Read the full article
Reinsurance vital for development of sustainable cyber market: S&P
30th August 2023
As cyber insurance remains the fastest growing sub-sector of the global insurance market, S&P has underlined the importance of reinsurance in the development of a sustainable and effective market. According to S&P, primary carriers ceded around 50% to 65% of their cyber insurance premiums to reinsurers in 2022, depending on the ... Read the full article
Cyber insurance market regains profitability, reaching $12bn in annual premiums by 2022: S&P Global
29th August 2023
Following a phase of escalating rates and more stringent terms, the global cyber insurance market has resurged into profitability, with annual premiums reaching around $12 billion by the end of 2022, as reported by S&P Global Ratings. Projections suggest that this growth will persist, with premiums predicted to rise by 25%-30% ... Read the full article
S&P Global warns Chinese P&C insurers of setback from heavy rains in Beijing
25th August 2023
S&P Global Ratings has warned Chinese investors about the setbacks of recent extreme rain in Beijing. The city has received the heaviest rain in 140 years, which analysts say serves as a reminder to the country's property and casualty (P&C) insurers about the risk of the rising frequency of catastrophe ... Read the full article
Top 20 reinsurers maintained or reduced cat exposure at Jan renewals: S&P
24th August 2023
"Catastrophe risk appetite continues to vary, with more than half of the top 20 global reinsurers maintaining or reducing their natural catastrophe exposures during the January 2023 renewals, despite the improved pricing terms and conditions and rising demand," according to a new report from S&P Global Ratings. S&P's report noted that ... Read the full article
Top 20 global reinsurers can “ride out” unrealized losses: S&P
18th August 2023
S&P Global Ratings has said it does not view current unrealized losses on the majority of fixed-income securities for the top 20 global reinsurers as a material risk because of the reinsurers' approach to cash flow management. According to S&P, this, along with robust liquidity, limits the risk that reinsurers will ... Read the full article
S&P revises Munich Re’s outlook to positive on improving diversification
17th August 2023
S&P Global Ratings has affirmed its 'AA-' issuer credit and insurer financial strength ratings on Munich Re, revising its outlook to positive from stable, citing the German reinsurer's ability to defend its excellent competitive position and conservative capital management via further earnings diversification by divisions. Referring to Munich Re's H1 ... Read the full article
S&P revises Swiss Re outlook to stable from negative on continued performance improvement
16th August 2023
S&P Global Ratings today revised its outlook to stable from negative on Swiss Re and its core subsidiaries, as well as affirmed the ratings on these entities. According to the rating agency, the outlook revision to stable reflects improvements in Swiss Re's underwriting performance since 2021 and its expectation that the ... Read the full article
GCC Islamic insurers face challenges with IFRS 17 adoption: S&P
9th August 2023
Islamic insurers operating in the Gulf Cooperation Council (GCC) region are poised for continued growth in 2023, but the adoption of the International Financial Reporting Standard 17 (IFRS 17) is presenting significant challenges, according to S&P Global Ratings. While the implementation is expected to usher in enhanced transparency and comparability, smaller ... Read the full article
Over 10% of S&P’s re/insurance ratings to be placed “under criteria observation”: Litmus Analysis
8th August 2023
More than 10% of S&P’s insurance ratings to be placed “under criteria observation” (UCO) as a result of the adoption of the rating agency’s new capital model criteria, according to a new report by Litmus Analysis. As S&P’s Request for Comment (RfC) period for the proposed changes has ended, the agency ... Read the full article
Stable outlook for APAC insurers in midyear 2023 despite potential challenges: S&P
7th August 2023
In its recently released midyear outlook, S&P Global Ratings has highlighted that the Asia-Pacific insurance sector is experiencing stable credit trends, with 90% of the region's insurers holding a stable outlook. This positive sentiment is underpinned by factors such as rising risk awareness and a low level of insurance penetration, which ... Read the full article
Positive growth expected for European non-life insurers despite persisting inflation: S&P
26th July 2023
Despite seeing a drop, inflation is expected to impact European non-life insurers, yet S&P Global Ratings believe they will continue to perform robustly. European insurers are facing numerous challenges linked to economic growth, inflation, interest rates, and investment. However, their capital strength, liquidity, and rising re-investment rates counterbalance these obstacles, according ... Read the full article
S&P upgrades CCR RE’s ratings following acquisition
5th July 2023
S&P Global Ratings has announced an upgrade in the issuer credit and financial strength ratings of French reinsurer CCR RE, raising them from 'A-' to 'A, following news of acquisition by SMABTP. The rating upgrade comes in the wake of SMABTP, in partnership with MACSF, successfully acquiring a majority stake ... Read the full article
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