Reinsurance News
S&P
Reinsurance capacity strong despite rising cats and adverse casualty trends: S&P
31st January 2025
Bolstered capital from strong earnings in 2024 led to ample capacity and strong reinsurer capital positions, contributing to a more orderly renewal season despite ongoing challenges from natural catastrophes and adverse casualty trends, according to a recent S&P report. “The January 1, 2025, reinsurance renewals marked a return to normalcy after ... Read the full article
Despite insurers’ innovation efforts customer expectations are not being met: Alastair Swift, WTW
29th November 2024
While insurers are striving to innovate and navigate challenging market conditions, they are failing to meet customers expectations, while customers also need to adapt to the changing insurance landscape, Alastair Swift, Head of CRB Global Lines & CEO of Willis Limited, highlighted during S&P's European Insurance Conference. Speaking on a panel ... 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
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
Insurers could see limited impact from CE floods on P&C 2024 underwriting results: S&P
26th September 2024
The impact of the floods resulting from Storm Boris in Central Europe on rated insurers' property and casualty (P&C) underwriting performance will be manageable, S&P analysts expect. A slow-moving storm caused days of intense rainfall and severe flooding across Czechia, Poland, Austria, and Romania over the second week of September. Given the ... Read the full article
Global reinsurers’ show increasing appetite for nat cat risks, says S&P
30th August 2024
S&P Global Ratings reports that global reinsurers are increasingly interested in natural catastrophe risks, driven by recent pricing corrections and higher attachment points, and are anticipated to deploy more capital in this market over the next two years. Improved underwriting margins, strong investment returns, and solid capitalisation are expected to further ... Read the full article
S&P assigns Enact Re A- rating as strong performance continues
22nd August 2024
Enact Re, a subsidiary of Enact Mortgage Insurance Company (EMICO), has received an A- rating from S&P Global Ratings, with a stable outlook. This is the first rating assigned to Enact Re by S&P and the second rating since its launch, which underscores continued strong performance, Enact stated. Rohit Gupta, Enact’s President ... Read the full article
Islamic insurance sector in GCC region to expand by 15-20% in 2024: S&P
15th August 2024
After witnessing strong topline growth across 2022 - 2023, Islamic and Takaful insurers based in the Gulf Cooperation Council (GCC) region are continuing to benefit from favourable growth prospects, which is mainly due to higher insurance demand in Saudi Arabia, says S&P Global Ratings. In a new report, S&P explained that ... Read the full article
Reinsurers must maintain underwriting discipline to mitigate nat cat losses: S&P
9th August 2024
Last year marked the fourth consecutive year in which global insured natural catastrophe losses exceeded $100 billion, however, reinsurers largely avoided significant impacts due to strategic positioning, according to S&P Global Ratings. In 2023 and the first half of 2024, insured losses from secondary perils—particularly severe convective storms (SCS)—reached unprecedented levels. ... Read the full article
S&P affirms SCOR’s ‘A+’ ratings with stable outlook despite L&H profit warning
24th July 2024
Despite profit warning and a drop in capitalisation, S&P Global Ratings has affirmed its 'A+' long-term insurer financial strength and issuer credit ratings on SCOR SE and related core subsidiaries. The outlook remains stable. The rating agency restated its expectations on capital and earnings as a result of SCOR’s decision to ... Read the full article
S&P upgrades VIG rating to A+ with stable outlook
17th July 2024
S&P has awarded Vienna Insurance Group (VIG) an excellent "A+" rating with a stable outlook. This places VIG among the top-rated companies in the Austrian Traded Index. The Group’s reinsurance company, VIG Re, based in Prague, also received an "A+" rating with a stable outlook. S&P attributes this high rating to VIG's ... Read the full article
Reinsurance sector can handle a large tail event: S&P’s Karakuyu
12th July 2024
During yesterday's S&P Global Ratings Insurance In Focus webinar, Ali Karakuyu, Director and Lead Analyst, stated that if a large tail, 1-in-200 year catastrophe event were to occur, the global reinsurance sector is well-prepared and would be able to manage it effectively. Responding to a question on the sector's preparedness for ... Read the full article
S&P upgrades REVO Insurance rating to A-
21st June 2024
S&P Global Ratings has raised REVO Insurance, S.p.A.’s, an Italian insurer specialised in parametric policies and specialty lines, rating from BBB+ to A- with a stable outlook. According to the rating agency, the upgraded rating reflects the insurer’s “profitable growth across all the business lines maintaining its leadership in the Surety ... Read the full article
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