Global property and casualty reinsurers saw “good” rate increases during the January 2021 renewals but they came up short of a hard market, dashing reinsurers’ hope of a strong start for 2021, according to a report from S&P Global Ratings. …
American International Group’s plan to downsize by divesting its Life & Retirement (L&R) business is drawing cautious and wary reactions from rating agencies that follow the property/casualty insurance giant. They said that they’re worried about what the divestiture will do …
A decade of low interest rates and tough underwriting conditions has led reinsurers to cautiously invest in riskier and more illiquid assets to generate additional return. The good news is that this strategy also has helped reinsurers tolerate the economic …
Despite the global reinsurance sector’s “robust capital position” and “very high rate rises,” which are expected to “carry on for the remainder of year, and continue for major renewals in 2021,” S&P Global Rating’s credit outlook for the sector will …
The Lloyd’s market looks unlikely to turn an underwriting profit in 2020 given the pandemic and hurricane season. However, there a signs of improvement, according to analysts at S&P Global Ratings. S&P notes that the COVID-19 pandemic has already caused …
Global insurers have proven resilient during the first wave of the COVID-19 pandemic, as their capital strength has helped stave off widespread downgrades; however, insurers’ capital buffers will erode through the second half of the year as financial market losses …
S&P Global Ratings has revised its outlook on Allianz Global Corporate & Specialty SE (AGCS) to negative from stable, while at the same time affirmed the insurer’s “AA” financial strength and issuer credit ratings. The outlook revision reflects S&P’s view …
S&P Global Ratings has affirmed its “AA-” long-term issuer credit and financial strength ratings for Munich Re and its subsidiaries, with a stable outlook. The stable outlook reflects S&P’s view that Munich Re will maintain capital adequacy above the “AA” …
Some global regulators are advising insurers to suspend dividend payments in response to the COVID-19 pandemic. If insurers do, they won’t have to worry about their credit quality, S&P Global Ratings said in a recent report. “Insurers’ decision to curb …
The fallout from the coronavirus pandemic and tumbling oil prices threaten the earnings of insurers in the Gulf, S&P Global Ratings said on Wednesday, possibly leading to negative rating actions. “Most insurers we rate in the GCC [Gulf Cooperation Council] …
