Rating Agencies
Wait ‘Til Next Year: Auto Profit Unlikely to Return in ’23, S&P Says
In spite of continued actions to raise prices of coverage, auto loss costs continue to climb and profits will continue to elude personal auto insurers—probably until 2024, analysts at Standard ...
U.S. P/C Underwriting Profit in 2023? Not Yet, Fitch Predicts
Analysts at Fitch Ratings predict a better underwriting result for U.S. property/casualty insurers in 2023 than 2022, but the combined ratio is still going to hover above breakeven, according to ...
AM Best Places Ratings of R&Q and Subsidiaries Under Review With Negative Implications
AM Best has placed under review with negative implications the Financial Strength Rating of "A-" (Excellent) and the Long-Term Issuer Credit Ratings of "a-" (Excellent) ...
D&O Story for 2022: Prices Down; Loss Ratios Up; Top Carriers Ranked
Although analysts at Fitch Ratings estimate that combined ratios for the directors and officers liability line remained below breakeven in 2022, with competition fueling price declines and the ...
U.S. P/C Industry Underwriting Loss $20B+ Higher in 2022; Reserve Releases Fall
According to data compiled by AM Best, the U.S. property/casualty industry recorded a $26.5 billion net underwriting loss in 2022, $21.5 billion more than the $5 billion underwriting loss the rating ...
AM Best Downgrades SCOR Ratings
AM Best announced Thursday that it has downgraded the financial strength rating to "A" (excellent) from "A+" (superior) and the long-term issuer credit ratings to "a+" (Excellent) from "aa-" ...
2022 In Review: It Was Bad
The year 2022 is in the books for most U.S. property/casualty insurers as the days tick down to statutory filing deadlines. Putting the numbers together, AM Best revealed just how bad the aggregate ...
Fitch Ups AIG P/C Ratings to A+; Multiyear Transformation Prompts Action
A 2022 combined ratio of 92 for the property/casualty operations of American International Group is evidence of the success of the carrier's multiyear turnaround that factored into an upgrade from ...
AM Best Downgrades California Earthquake Authority Credit Ratings
AM Best downgraded the Financial Strength Rating of California Earthquake Authority to "B++" (Good) from "A-" (Excellent) and the Long-Term Issuer Credit Rating to "bbb+" ...