A bulletin from Fitch Ratings indicates that, based on preliminary analysis, Chile’s insurance industry solvency “will not be affected by the recent Iquique earthquake and tsunami. Chilean property/casualty (P&C) insurance industry will likely absorb limited losses from the earthquake and …
Fitch Ratings said it maintains a stable rating outlook for the U.S. commercial lines sector due to improving profitability over the past two years and strong capital levels allowing insurers to withstand considerable adversity. Fitch’s fundamental outlook on the commercial …
As federal subsidies for flood insurance are reduced and the cost of government provided insurance goes up, the demand for private flood coverage could also rise, according to Fitch Ratings. However, it remains to be seen if the private reinsurance …
Severe winter weather is causing large losses for property/casualty insurance companies in early 2014, however there should be no rating impact as a result, according to Fitch Ratings. The severe winter weather from Jan. 1 to Feb. 21 has generated …
American International Group Inc., the insurer that repaid a U.S. bailout in late 2012, has been upgraded by Fitch Ratings after buying back bonds and improving results at its units. The rating on senior debt was lifted to BBB+ from …
Fitch Ratings has affirmed the “A” rating on California Earthquake Authority’s outstanding fixed-rate revenue bonds, which mature on July 1, 2016. Fitch has also affirmed CEA’s Issuer Default Rating (IDR) at “A.” The Rating Outlook is Stable. “The ratings reflect …
Property/casualty industry prior-year loss reserves have developed favorably for seven straight calendar years, according to a report from Fitch Ratings, which also said the industry’s reserve position remains adequate overall. Fitch Ratings found the industry reserve position to be adequate …
If Congress fails to renew or makes significant changes to the federal government’s terrorism risk insurance program, some insurers will be forced to significantly alter their underwriting portfolios to reduce terrorism exposures. Also specialty or monoline workers’ compensation or commercial …
Fitch Ratings has maintained its stable outlook for both the commercial and personal lines sectors of the U.S. property/casualty insurance industry. Insurers have withstood less favorable underwriting and economic conditions in the past several years, leading to weaker profitability. However, …
Major credit rating agencies won a fresh legal victory on Monday when a federal appeals court rejected a lawsuit by Ohio pension funds that sought to recoup millions of dollars of losses on risky mortgage debt they said were based …
