Reinsurance News
S&P
Michael will be an earnings event rather than a capital event for re/insurers: S&P
11th October 2018
Hurricane Michael, which struck Florida and the surrounding U.S states as a Category 4 storm yesterday, will be an “earnings event rather than a capital event for both the U.S primary insurance and global reinsurance sectors,” according to a report by S&P Global. Michael battered the states of Florida, Alabama ... Read the full article
Re/insurers are “past the point of no return” for Brexit plans: S&P
11th October 2018
A new report by S&P Global has claimed that financial institutions (FIs) are now “past the point of no return” in regard to the implementation of their Brexit contingency plans, which can no longer be reversed whatever the outcome of the UK’s negotiations with the EU. Many FIs have already begun ... Read the full article
Price cycles less pronounced, rates to fade out in 2019: S&P Global
20th September 2018
In the wake of Monte Carlo’s 62nd "Rendez-Vous de Septembre", S&P Global believes 2018 clearly demonstrated that price cycles have become less pronounced, reinforcing its belief that rate increases will fade out in 2019. The main reason for this pressure, S&P says, is the significant capacity of both traditional and alternative ... Read the full article
Black swan event needed to turn the market: Industry execs
9th September 2018
Speaking as part of a panel discussion at the S&P roundtable during the meeting of the reinsurance industry in Monte-Carlo, industry experts and executives said that it will take a black swan event to turn the marketplace. Despite losses of a reported $140 billion in 2017, expected to be one of ... Read the full article
H1 natural catastrophes will have “limited impact” on reinsurers: S&P
6th September 2018
Losses relating to natural catastrophe events that have occurred thus far in 2018 are likely to have only a “limited impact” on reinsurers, with primary insurers and the U.S National Flood Insurance Program (NFIP) expected to bear the majority of the costs, according to a recent report by S&P Global ... Read the full article
Re/insurance industry benefits from slower pace of regulatory change: S&P
6th September 2018
The re/insurance industry is benefitting from a slow, deliberate pace of regulatory change as jurisdictions around the globe increasingly push for more stringent rules and requirements, according to S&P Global Ratings. S&P compared the regulatory changes of the global re/insurance sector, which appear to be gaining momentum, to regulation in the ... Read the full article
S&P maintains stable reinsurance outlook despite weak market conditions
4th September 2018
S&P Global Ratings has maintained its stable outlook on the global reinsurance sector and on the majority of the reinsurers it rates due to robust capital adequacy and disciplined underwriting, but has warned that the sector continues to face weak business conditions and fundamental challenges. The firm noted that operating conditions ... Read the full article
Opportunities remain in U.S mortgage reinsurance market, but discipline is key: S&P
3rd September 2018
Opportunities remain for reinsurers in the U.S mortgage market, although companies must exercise strong discipline as the underwriting cycle is now past its peak, with credit risk and pricing pressure likely to increase as capacity expands, according to a report by S&P Global Ratings. The U.S housing and mortgage market has ... Read the full article
Top eight reinsurers account for 90% of global life premiums: S&P
31st August 2018
The top eight global life reinsurers dominate the industry and account for around 90% of total premiums, making it difficult for new entrants to quickly enter the market and establish themselves, according to a recent report by S&P Global Ratings. The report said that such a scale of competitive advantage would ... Read the full article
Global life reinsurance industry set for stable short-term growth: S&P
24th August 2018
The global life reinsurance industry is expected to experience stable premium growth of about 3% per year and a return on equity of just above 10% from 2018 to 2020, according to a new report by S&P Global Ratings. S&P observed that the global life reinsurance industry weathered 2017’s unusually high ... Read the full article
Re/insurers weather challenging H1 market with $48bn in M&A deals: S&P
23rd August 2018
Global re/insurers have turned to mergers and acquisitions (M&A) deals to remain relevant in the face of challenging market conditions, with total transaction volume reaching $48 billion during the first half of 2018, according to S&P Global Ratings, although the firm maintains a neutral view on this trend. A recent report ... Read the full article
Tax reforms to restore underwriting profitability in U.S. P&C industry: S&P
6th July 2018
Federal tax reform has emerged as a key variable in revenue growth and profitability as the U.S Property & Casualty market looks set to return to underwriting profitability for the first time since 2015, according to S&P Global Market Intelligence. A recent report by S&P identified various factors that were supporting ... Read the full article
Global reinsurer rankings volatile, Berkshire Hathaway breaks into top 3: S&P
30th May 2018
S&P Global has reported that the rankings of the largest global reinsurers could be subject to volatility, as Warren Buffett’s Berkshire Hathaway was propelled into the top 3 last year following the $10.2 billion premium it collected from its adverse development deal with AIG. Further disruption could be caused by ... Read the full article
S&P upgrades Sompo International’s core operating subsidiaries to A+
1st May 2018
S&P Global Ratings has upgraded its long-term issuer credit and financial strength ratings for Sompo International Holdings’ (SIH) core operating companies, from A to A+. SIH and its operating subsidiaries are also considered to have a stable outlook, and S&P raised its long-term issuer credit and senior debt ratings on SIH ... Read the full article
UK life and non-life insurance sector “stable” in 2018: S&P
19th February 2018
The S&P outlook for both life and the non-life sector for UK insurers is stable in 2018, with expansion forecast for life insurance, but regulatory risk could pose a challenge to the industry. The expectation is that economics in the UK will remain in line with historical standards for the most ... Read the full article
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