Reinsurance News
S&P
The Hanover’s outlook revised to stable on improved underwriting by S&P
20th August 2019
S&P Global Ratings has revised its outlook for The Hanover Insurance Group Inc. (THG) from negative to stable, citing a sustainable underwriting improvement in the company’s U.S commercial business. The rating agency also affirmed its ‘A’ issuer credit and financial strength ratings for THG and its core operating subsidiaries. S&P believes that ... Read the full article
M&A dance to continue as reinsurers navigate difficult conditions: S&P
13th August 2019
The ongoing convergence of the insurance, reinsurance, and insurance-linked securities (ILS) markets is expected to persist, and combined with continued pressure on earnings and an increasing need for scale and relevance, is expected to drive further reinsurance sector consolidation, according to S&P Global Ratings. Despite the global reinsurance sector taking advantage ... Read the full article
Underwriting discipline to prevail, but earnings volatility could be on rise: S&P
7th August 2019
As the majority of large, global reinsurance companies opted to increase their natural catastrophe exposure in light of the improved rate environment, analysts at S&P have warned that while discipline is expected to persist, earnings and capital volatility could be on the rise for some. After a prolonged soft market cycle, ... Read the full article
S&P stays negative on Aspen citing performance pressure
26th July 2019
S&P Global Ratings has maintained its negative outlook on the ratings of Bermudian re/insurer Aspen Insurance Holdings and its subsidiaries, citing continued pressure on the company’s underwriting performance compared to its peers. The rating agency also affirmed its ‘BBB+’ long-term issuer credit rating for Aspen, and ‘A-‘ long-term issuer credit and ... Read the full article
Korean Re’s Swiss branch obtains strength rating of A from S&P
5th July 2019
Korean Reinsurance Company (Korean Re), the Seoul-based reinsurer, has announced that its recently established branch in Switzerland has obtained long-term issuer credit and financial strength ratings of ‘A’ from S&P Global Ratings. The Zurich-based subsidiary, called Korean Reinsurance Switzerland AG, was licenced to start reinsurance business from June 1, 2019. Korean ... Read the full article
UK insurers well-placed, but no-deal Brexit could have significant implications: S&P
2nd July 2019
S&P Global Ratings sees broadly stable trends for the UK insurance sector but warns that a no-deal Brexit outcome could have important long and short-term implications for the UK economy, which could be a key risk for ratings on UK insurance firms. The global financial services ratings agency maintains a base-case ... Read the full article
S&P turns stable on Lloyd’s due to underwriting improvements
14th June 2019
S&P Global Ratings has revised the outlook on its ratings for Lloyd’s of London from negative to stable, citing improved underwriting performance driven by the efforts of the new leadership team. The revision applies to Lloyd’s, the Society of Lloyd’s, and its core subsidiaries, and S&P has also affirmed its issuer ... Read the full article
Industry execs optimistic about U.S P&C market conditions: S&P Global
10th June 2019
U.S property and casualty (P&C) re/insurers are benefiting from a strong business environment with adequate capital reserves despite the elevated level of catastrophe losses in recent years, according to panellists at a recent S&P Global Ratings conference. The executives generally agreed that the industry was currently enjoying strong fundamentals and capital ... Read the full article
Re/insurers can issue more hybrid debt under Solvency II, but ratings may suffer: S&P
3rd June 2019
European re/insurers operating under Solvency II regulations have the flexibility to issue further hybrid capital if needed, according to a new report by S&P Global Ratings, but doing so could put credit ratings at risk. Analysts noted that access to hybrid capital is an important element of a re/insurer’s financial strength, ... Read the full article
Activity in the European insurance run-off market to increase, says S&P
21st May 2019
International financial services rating agency, S&P Global Ratings, expects stable to gradually increasing activity in Europe's property and casualty (P&C) run-off market. More so for longer tail lines, S&P expects annual growth in liabilities in run-off of between 1% and 2% until the year 2020. Over the next few years, the ratings ... Read the full article
European re/insurers prepared for economic uncertainty, reports S&P
13th February 2019
The biggest risk to European re/insurers’ balance sheets in 2019 is the potential for economic disruption, although most companies are well-positioned and prepared to withstand volatility, according to analysts at S&P Global Ratings. A report by the rating agency highlighted the changing nature of the risk landscape ten years after the ... Read the full article
Modest, regionalised price increases expected throughout 2019: S&P
24th January 2019
Despite reinsurers globally holding out for meaningful pricing movement after shouldering roughly a quarter of the $80 billion insured losses throughout 2018, S&P Global Ratings expects the modest, increasingly regionalised price increases seen at the January renewals to persist throughout 2019. Furthermore, the rating agency believes that 2018’s losses exceeded cat ... Read the full article
S&P maintains stable outlook on U.S health in 2019
10th January 2019
S&P Global Ratings has maintained a stable outlook on the U.S health insurance sector for 2019, with a combination of favourable business conditions and financial factors offsetting key concerns and risks. Analysts noted that strong payroll employment continues to bolster the commercial segment, with the ageing U.S population driving Medicare Advantage ... Read the full article
Reinsurance sector struggling to keep pace with cost of capital: S&P
30th November 2018
With only modest pricing increases experienced over 2018 and momentum set to fade in 2019, the global reinsurance sector may find it increasingly difficult to keep pace with its cost of capital, according to S&P Global Ratings. The rating agency noted that last year the reinsurance sector generated returns on capital ... Read the full article
U.S. life insurance sector to remain well capitalised: S&P
20th November 2018
S&P Global Ratings has said that the U.S. life insurance industry has strong capitalisation at a macro level, but warns that capitalisation varies by individual company. Analysis by the global ratings agency finds that rather than reserve risk, it is asset risk that drives capital requirements for life insurance companies, with ... Read the full article
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