Hurricanes and wildfires drive US P&C underwriting 2017 loss: AM BestHurricanes and wildfires in the third and fourth quarter of 2017 pushed US property and casualty (P&C) business to a loss for the year, according to AM Best.
AM Best model change to spur reinsurance demandReinsurers are set to benefit from an uptick in demand for coverage from primary carriers following a change to AM Best’s rating methodology, Aon Benfield has said.
Brexit poses big challenges: AM BestThe rating firm issued a report on the rising issue of protectionism but said that Brexit will cause significant issues for both UK and international firms operating from London.
California’s $4.6bn wildfires cost add to reinsurers’ H2 2017 loss tallyThe wildfires that have swept through California’s wine making region will add a further $4.6bn in H2 2017 losses to the (re)insurance industry, rating agency Moody’s estimates.
Lloyd’s S&P outlook downgraded to negativeAgainst a backdrop of circa $100bn in industry losses from the recent catastrophic events, S&P has revised its outlook for the market from stable to negative, while maintaining it’s A+ financial strength.