Analysts at two rating agencies, Fitch and Moody’s, believe property/casualty insurers’ prior-year loss reserve takedowns will continue to outpace reserve additions in 2013. The analysts spoke about P/C industry reserving trends as they reviewed their year-end outlooks and 2013 forecasts …
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 …
Poor results in the long-term care insurance sector have led many providers to exit the market, leaving its future uncertain, Moody’s Investors Service says in a new report. The report, “Long-Term Care Insurance: Sector Profile,” says that despite the need …
Moody’s Investors Service has maintained a stable outlook for the global reinsurance industry. Moody’s said the outlook “expresses our expectations for the fundamental credit conditions in the industry over the next 12 to 18 months.” It also “acknowledges the industry’s …
Moody’s Investors Service has changed its outlook on the ‘Aaa’ rating of the European Union to negative, warning it might downgrade the bloc if it decides to cut the ratings on the EU’s four biggest budget backers: Germany, France, UK …
Record-setting droughts in the U.S. Midwest throughout 2012 are likely to result in substantial gross insured losses for crop insurers and reinsurers and possibly their first overall loss in 10 years, says Moody’s Investors Service in a profile of the …
U.S. property/casualty insurers reported significantly higher net income in the second quarter of 2012 relative to second-quarter 2011, driven by lower catastrophe losses and increased growth in earned premiums, says Moody’s Investors Service. However, operating income for the sector – …
Ratings agency Moody’s Investors Service downgraded 15 of the world’s biggest banks on Thursday, lowering credit ratings by one to three notches to reflect the risk of losses they face from volatile capital markets activities; however, some banks criticized the …
Connecticut officials are encouraging other states to consider suing credit-rating agencies that gave high grades to risky mortgage-backed securities that plummeted in value when the housing market collapsed in 2007-2008. Connecticut Attorney General George Jepsen’s office on Wednesday briefed other …
Moody’s warned on Thursday it may cut the credit ratings of 17 global and 114 European financial institutions in another sign the impact of the euro zone government debt crisis is spreading throughout the global financial system. It was reviewing …
