Global reinsurance sector profits in 2016 will fall below 2015 levels as soft market rates, low investment income and an over-supply of capital continue to take their toll on the market, according to a new report from Fitch Ratings. Fitch …
White Mountains Insurance Group Ltd. completed its $2.6 billion sale of Sirius International Insurance Group to a division of China Minsheng Investment Corp. Ltd., nine months after the deal was first announced.Out of that total, White Mountains used $160 million …
The negative impact of low interest rates and soft market pricing on London market insurers has been partially offset by low levels of large claims, according to Fitch Ratings in a special report. London market insurers tend to hold a …
Weak business conditions in the reinsurance industry are being masked by a low level of catastrophes and a high level of reserve releases, said Standard & Poor’s Ratings Services and Fitch Ratings in new reports. “Stripping out these two factors, …
PrtnerRe’s new owner EXOR has closed its $6.9 billion acquisition of the Bermuda-based reinsurer, and Fitch Ratings quickly responded with a ratings downgrade that reflects some pessimism over the transaction and the broader market. Fitch said it downgraded PartnerRe’s insurer …
Fitch Ratings has upgraded Ageas SA/NV’s long term Issuer Default Rating (IDR) to ‘A’ from ‘A-‘. The outlook on the IDR is stable. Ageas SA/NV is the ultimate holding company of the Ageas group (Ageas). Fitch has also affirmed Ageas …
Fitch Ratings has issued reports on both the UK and the French non-life insurance sectors. The UK report indicates that “operating conditions within the UK non-life company market are expected to remain stable in 2016.” Fitch said, however, that it …
Fitch published a list of key takeaways from last week’s reinsurance Rendez-Vous in Monte Carlo, where some of the major trends affecting the industry were discussed: mergers & acquisitions, alternative capital, pricing and the Tianjin Port explosion in China. Meetings …
Global reinsurance executives who met in Monaco questioned whether a frenzy of mergers in Europe means buyers of Lloyd’s of London insurance companies are paying too much. Deal-making will continue after Tokyo-based MS&AD Insurance Group Holdings Inc. agreed last week …
While some are more exposed than others, U.S. property/casualty insurers generally can handle more significant deterioration in global equity market conditions while maintaining capital positions consistent with current ratings, according to analysts at Fitch Ratings. U.S. P/C insurance companies traditionally …
