Rating actions

Generali upgraded to A+ by Fitch on improved capitalisation

Fitch Ratings has upgraded the insurer financial strength ratings of Generali and its core operating subsidiaries to A+ from A-, in a move the rating agency said reflects the Italian insurer’s strong capitalisation and moderate financial leverage*]

AM Best goes negative on ReAlign over operating performance concerns

AM Best has revised the outlook to negative from stable on the financial strength ratings of A (Excellent) for the members of Dallas-based program carrier ReAlign Insurance Group, following a deterioration in underwriting results.

BofA Securities upgrades Axis to “buy”, says property re exodus overhang “overdone”

BofA Securities upgraded its rating on Axis’ stock to ‘buy’ on Friday, arguing the shares have been undervalued and that the firm should trade more in line with specialty insurance-focused peers, as BofA set a price target of $68 per share.

S&P model changes the biggest overhaul in years: Citi’s Shuck

S&P’s capital model changes represent the “biggest model overhaul in years” and could enable European reinsurers to release capital at year end, according to Citi analyst James Shuck.

Conning: Diligence, reinsurance costs, ratings scrutiny among Vesttoo fallout

Conning has highlighted a greater focus on diligence and risk management, reinsurance costs and diversification, regulatory and rating agency scrutiny, and fronting sector growth impacts as among the key ramifications of the ongoing Vesttoo scandal.

S&P: Positive H1 results helped drive reinsurance outlook revision to stable

Positive movements in pricing and terms and conditions are anticipated to continue into the 2024 renewals, with this sustained momentum fuelling bullish expectations that the global reinsurance sector will meet its cost of capital in 2023 and 2024, according to Johannes Bender, reinsurance sector lead at S&P Global Ratings.

AM Best revises Swiss Re’s ICR outlook to stable on improved UW results

AM Best has revised its outlook for Swiss Re’s “aa” (Superior) long-term issuer credit rating (ICR) to stable from negative because of “sustained improvements” in underwriting results, while also affirming the reinsurance giant’s A+ (Superior) financial strength rating (FSR).

AM Best places Texas Farm Bureau under review after weather losses

AM Best has placed under review with negative implications the A- (Excellent) financial strength rating of Texas Farm Bureau Mutual Group due to material deterioration in surplus through the first half of 2023.

AM Best upgrades Assurant’s P&C units to A+

AM Best has upgraded the financial strength rating to A+ (Superior) from A (Excellent) of the US property casualty subsidiaries of Assurant, citing their improved balance sheet strength and adequate reinsurance.

Fitch revises global reinsurance sector outlook to ‘improving’

Fitch Ratings has revised its outlook for the global reinsurance sector to ‘improving’ from ‘neutral’ to reflect the sector’s strengthening financial performance into 2024.

S&P improves global reinsurance sector outlook to stable

S&P Global Ratings has revised its outlook for the global reinsurance sector to stable from negative, amid expectations that carriers will earn their cost of capital in 2023-2024 based on favourable P&C reinsurance pricing conditions.

Moody’s upgrades MMC’s senior debt to A3

Marsh McLennan’s “steady” revenue and earnings growth and expectations that the firm’s financial leverage will remain close to its current level have led Moody’s Investors Service to upgrade the broking giant’s senior unsecured debt rating to A3 from Baa1.

Concert’s new MPL-focused Indigo RRG assigned PCA of A-

Concert Insurance Group’s newly formed Indigo Risk Retention Group has been assigned a preliminary credit assessment by AM Best, with the medical professional liability-focused operation handed a financial strength rating of A- pca and a long-term issuer credit rating of “a-” pca.

AM Best goes positive on Skyward’s A- rating after improved performance under Robinson

AM Best has revised the outlooks to positive from stable for the subsidiaries of Skyward Specialty’s A- (Excellent) financial strength ratings in response to improving underwriting results since 2020 following a change in executive leadership.

Moody’s places Farmers exchange on review for downgrade

Moody's Investors Service has placed the A3 insurance financial strength (IFS) rating and Baa3 (hyb) surplus notes ratings of Farmers Insurance Exchange on review for downgrade amid profitability and capital adequacy concerns.

UFG cut to A- by AM Best after operating performance downturn

AM Best has downgraded the financial strength ratings of the property casualty subsidiaries of Cedar Rapids, Iowa-based United Fire Group to A- from A following deterioration in operating performance this year.

AM Best: Reinsurers still face challenges despite return to underwriting profit

AM Best has maintained its stable outlook for the global reinsurance segment on the back of a sector-wide return to underwriting profit in 2022 amid “extremely challenging” market conditions, including persistent and elevated claims activity.

Kemper gets Fitch IFS downgraded to A-, IDR downgraded to BBB-

Fitch Ratings has downgraded the insurer financial strength (IFS) of Kemper Corporation’s lead P&C operating subsidiary Trinity Universal Insurance Company to A- (strong) from A, and the issuer default rating (IDR) for Kemper’s holding company to 'BBB' from 'BBB+' and its senior debt ratings to 'BBB-' from 'BBB'.

S&P raises Munich Re’s outlook to positive from stable

S&P Global Ratings has raised its outlook on Munich Re to positive from stable in recognition of the reinsurer’s “improving diversification” which S&P said is supported by its “sound operating performance”.

Swiss Re’s outlook revised to stable from negative by S&P

Swiss Re’s outlook has been revised to stable from negative by S&P Global Ratings as the Zurich-based reinsurer continues to record notable improvements in its performance, including the $1.4bn net profit and consolidated non-life 94 percent combined ratio it posted for the first half of 2023.

Region

Topics

Events & Conferences

Content Types