Latest S&P Headlines
All the headlines from our S&P Topic Page, ordered by recency.
AM Best and S&P Ratings Suspend All Commercial Operations in Russia
Mar 30 2022 // AM Best announced it has suspended all commercial activities to clients in Russia and has withdrawn all credit ratings on Russia-based re/insurance companies, subject to sanctions imposed by the European Union (EU) and in...
S&P Report Sheds Light on Florida Farm Bureau’s Losses
Feb 11 2022 // Recently posted data provides new insight on the dire financial situation for Florida Farm Bureau, one of four carriers that announced it would stop writing or non-renew thousands of homeowner policies in Florida this...
Reinsurer Natural Disaster Losses to Exceed Budget Expectations for 5th Year: S&P
Oct 15 2021 // For the fifth consecutive year, insured losses from natural catastrophes are expected to be at or above global reinsurers’ budget expectations, but their very strong capital adequacy continues to provide a cushion,...
Re/Insurance Cyber Rates Could Double Before 2023, as Attacks Skyrocket: S&P
Sep 30 2021 // The pandemic caused economic and insured losses from cyber attacks to skyrocket, which has heightened awareness of the risk and increased demand for cyber re/insurance, according to a report published by S&P Global...
Global Reinsurers Could Be Greatly Underestimating Exposure to Climate Risk: S&P
Sep 24 2021 // Reinsurers’ estimates of their exposure to natural catastrophe risk could be underestimated by 33%-50%, according to a report published by S&P Global Ratings. “Unmodeled risks and the inherent difficulties...
Speciality Re/Insurer Convex Launches European Subsidiary With A- Rating From S&P
Sep 20 2021 // Convex Group Ltd. announced the launch of a Luxembourg-based European insurance entity, Convex Europe SA (CES). Convex received regulatory approval on Sept. 15, 2021 from the Luxembourg regulator, the Commissariat aux...
Commercial Auto Insurance Profitability Still Way Down the Road: S&P
Sep 20 2021 // U.S. commercial auto insurers face some blips and disruptions on their road to profitability due to inflation and the spotty post-pandemic economic recovery. According to a Standard & Poor’s Global Ratings...
Commercial Auto Insurance Profitability Still Way Down the Road: S&P
Sep 8 2021 // U.S. commercial auto insurers face some blips and disruptions on their road to profitability due to inflation and the spotty post-pandemic economic recovery. According to a Standard & Poor’s Global Ratings...
Pandemic Uncertainty Hasn’t Slowed Private Equity Investments in Insurance: S&P Global
Aug 31 2021 // Private equity and venture capital firms have been pouring capital into insurance companies despite the uncertainties about claims and losses from the pandemic, according to a new analysis from S&P Global Market...
S&P Warns of Cyber Risk’s Impact on Insurers’ Credit Ratings
Jul 19 2021 // Cyber risk is becoming increasingly relevant to insurer credit ratings, according to a report from S&P Global Ratings. Overall, S&P said it has noted “more credit-relevant cyber events in the last six months...
COVID Takes Big Bite from Multiline Insurers’ Earnings, in ‘Manageable’ Event: S&P
May 28 2021 // The COVID-19 crisis cost 16 global multiline insurers about $8 billion in 2020, although they still reported substantial net profit of $36 billion, according to a report published by S&P Global Ratings. This net profit...
S&P Forecasts Global Islamic Financial Industry Growth
May 4 2021 // The $2.2 trillion global Islamic finance industry is expected to grow 10%-12% over 2021-2022 due to increased Islamic bond issuance and a modest economic recovery in the main Islamic finance markets, S&P Global Ratings...
Q1 Activity Signals Record Insurer M&A Deals Ahead in 2021: S&P
Apr 19 2021 // Insurance carrier mergers and acquisitions could reach historic levels in 2021 based on early indications from a robust first quarter, according to a new Standard & Poor’s report. U.S. and/or Bermuda based...
First Quarter Activity Signals Record Insurance Carrier M&A Deals Ahead in 2021: S&P
Apr 6 2021 // Insurance carrier mergers and acquisitions could reach historic levels in 2021 based on early indications from a robust first quarter, according to a new Standard & Poor’s report. U.S. and/or Bermuda based...
Reinsurers Saw ‘Good’ Rate Hikes in January Renewals, but Will Be Asking for More: S&P
Mar 2 2021 // Global property and casualty reinsurers saw “good” rate increases during the January 2021 renewals but they came up short of a hard market, dashing reinsurers’ hope of a strong start for 2021, according...
S&P Finds U.S. Insurers Made Modest Gains in Diversity Over Decade
Nov 18 2020 // The U.S. insurance industry has achieved only modest gains in increasing diversity over the last 10 years, according to government data compiled by S&P Global Market Intelligence. S&P found that the percentage of...
AIG’s Plan to Divest Life & Retirement Business Could Prompt Ratings Downgrades
Nov 2 2020 // American International Group’s plan to downsize by divesting its Life & Retirement (L&R) business is drawing cautious and wary reactions from rating agencies that follow the property/casualty insurance...
Reinsurers’ Investment Strategies Offer Buffer for Low Interest Rates, Pandemic: S&P
Oct 30 2020 // A decade of low interest rates and tough underwriting conditions has led reinsurers to cautiously invest in riskier and more illiquid assets to generate additional return. The good news is that this strategy also has...
Ascot Names S&P’s Guijarro as U.S. Chief Risk Officer
Oct 1 2020 // Specialty insurer Ascot announced the appointment of Steve Guijarro as U.S. chief risk officer and group head of Exposure Management. Guijarro will have primary responsibilty for Ascot’s enterprise risk management...
Reinsurance Sector Can Expect More Negative Rating Actions over Next Year: S&P
Sep 9 2020 // Despite the global reinsurance sector’s “robust capital position” and “very high rate rises,” which are expected to “carry on for the remainder of year, and continue for major renewals...
