March 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AM Best announced it has suspended all commercial activities to clients in Russia and has withdrawn all credit ratings on Russia-based re/insurance companies, subject to sanctions imposed by the European Union (EU) and in advance of the EU’s April 15, …
February 2, 2022
With the effects of climate change becoming more palpable, a rise in climate litigation cases could have significant financial and reputational repercussions for corporates. Thomas Englerth, associate director at S&P Global Ratings, explores how the potential risks associated with this …
October 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, according to S&P Global Ratings. “The top 21 …
September 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 Ratings. “The trend toward digitalization will inevitably …
September 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 in attributing extreme events to climate change create the risk that …
September 2, 2021
Though estimates of Hurricane Ida’s impact on the insurance industry vary, both AM Best and S&P Global Ratings say losses will be manageable for insurers and that no rating actions are expected as a result of the powerful storm that …
July 22, 2021
With an insured price tag of €4 billion to €5 billion (US$4.7 billion to $5.9 billion), economic losses from Germany’s recent floods are likely to be significantly higher, which highlights a sizable insurance “protection gap.” This protection gap – or …
June 11, 2021
Catastrophe excess of loss reinsurance contracts “never anticipated an event like a pandemic,” but cedents can still expect compromises from their reinsurers, an industry executive said Thursday. While cedents and reinsurers may often disagree about how the reinsurance contracts apply, …
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 figure was down from $56 …
March 29, 2021
CNA Financial Corp.’s financial ratings have not been affected by the insurer’s recent cyber attack. AM Best, S&P Global Ratings and Fitch Ratings all affirmed their current ratings and outlooks for CNA and its subsidiaries and said they believe the …