Lloyd’s reported an interim full-year 2022 loss before tax of £800 million ($947.6 million) as a result of investment losses of approximately £3 billion ($3.6 billion). This compares to a profit of £2.3 billion ($2.7 billion) and investment income of …
Economic and insured losses from secondary perils from natural catastrophes are accelerating and surpassing the loss totals from primary perils, which is leading reinsurers to require higher attachment points, according to Gallagher Re. “The topic of primary versus secondary perils …
S&P Global Ratings announced that the rating agency is lowering the “AA-” financial strength and long-term issuer credit ratings for global reinsurer SCOR SE and its operating subsidiaries, highlighting persistent underperformance as the reason for the downgrades. “SCOR’s operating performance …
Over 90% of the world’s largest companies will have at least one asset highly exposed to the physical impacts of climate change by the 2050s, data and analysis from index and ratings provider S&P Global showed on Thursday. From heatwaves …
Since May 2020, S&P Global Ratings has had a negative credit outlook on the global reinsurance sector—and analysts said it isn’t time to change that view during a webinar last week. Taoufik Gharib, senior director and lead analyst, S&P Global …
The natural catastrophe business of global reinsurers has been reshaped by five years of higher-than-expected losses, which is leading reinsurers to adopt divergent strategies – either diving in to write more business at higher premiums or reducing their exposure, according …
SiriusPoint, the Bermuda-based global specialty insurer and reinsurer, has responded to the recent decision by S&P Global Ratings (S&P) to place the company and its core subsidiaries on CreditWatch, with negative implications. SiriusPoint currently has an “A-” insurer financial strength …
S&P Global Ratings raised the financial strength ratings on the core insurance and reinsurance subsidiaries of Fairfax Financial Holdings Ltd. to “A” from “A-” with a stable outlook. The rating agency also raised its long-term issuer credit rating on the …
S&P Global Ratings said it is withdrawing a proposal to change the way it assesses risk-based capital adequacy for insurers and reinsurers. For the first time in more than 10 years S&P looked to change the manner in which it …
Climate change could see 4% of global annual economic output lost by 2050 and hit many poorer parts of the world disproportionately hard, a new study of 135 countries has estimated. Ratings firm S&P Global, which gives countries credit scores …
