Rating Agencies
Reinsurers Won’t Earn Cost of Capital; More Rate Hikes: Fitch
The global reinsurance sector will fail to earn its cost of capital in 2020 amid the coronavirus crisis, which will help maintain reinsurance price increases during the year ahead, said Fitch ...
Underwriting Profits Up 21 Percent for Q1 2020: AM Best Analysis
Even though unrealized capital losses pushed surplus down 9 percent from year-end 2019 for the U.S. property/casualty insurance industry, aggregate underwriting profits for first-quarter 2020 were ...
AXIS Hit With S&P Outlook Downgrade Over Underperformance Concerns
AXIS Capital Holdings' lower-than-expected 2020 first-quarter earnings has now led to a negative ratings outlook from Standard & Poor's. The S&P action, which downgraded from a stable ...
If Passed, Bills to Nullify BI Exclusions Could Prove Disastrous: AM Best
Legislation to nullify business interruption (BI) exclusions in some states could have disastrous consequences for the P/C insurance industry if passed, potentially wiping out up to 50 percent of ...
AXIS Gets an A.M. Best Ratings Downgrade; Q1 Losses Hit $185M
AXIS Capital Holdings Ltd. must deal with a ratings downgrade issued by A.M. Best over concerns about its financial performance. On May 5, A.M. Best downgraded the financial strength rating to "A" ...
COVID-19 Pushes AIG’s P/C Insurance Business Into the Red
After years of losses and just 12 months of underwriting income, American International Group's property/casualty business has lost money again. For that, COVID-19 is to blame. AIG said the P/C arm ...
S&P Predicts Failure for COVID-19 Business Interruption Retroactive Coverage Efforts
Standard & Poor's said it does not expect state legislators to succeed in their efforts to retroactively expand business interruption insurance coverage for COVID-19-related losses. The reason: ...
Insurers Suspending Dividends Shouldn’t Worry About Their Credit Quality: S&P
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 ...