Rating Agencies
Reinsurer Downgrades Ahead, S&P Says; A.M. Best Says Sector Stable
Almost half of the global reinsurers rated by Standard & Poor's are "materially exposed" to competitive pressures, the rating agency said Monday, warning of negative rating actions to come for ...
A.M. Best Moves Tower Rating Status to Developing, Still Under Review
On Friday, A.M. Best Co. announced that it changed the "under review" status Tower Group ratings to "under review with developing" implications rather than "negative" implications—a reaction to ...
Fitch Changes Tower Group’s Rating Watch Status from Negative to Evolving
On Monday, Fitch Ratings revised the Rating Watch status of Tower Group International, Ltd. to Rating Watch Evolving from Rating Watch Negative following Tower's announcement of a planned merger with ...
Fitch Drops Tower Group Rating Another Notch to ‘B’ as RBC Ratios Fall
Fitch Ratings announced Thursday that it downgraded the insurer financial strength ratings of the operating subsidiaries of Tower Group International, Ltd.'s to "B" from "BB." In October 2013, ...
Fastest Growing E&S Carriers in Top 30 Revealed: Fitch Report
In a year-end report on the U.S. excess and surplus lines market, data compiled by Fitch Ratings revealed that the top growing E&S writers in recent years were not necessarily the biggest. The ...
Catastrophe Bond Issuance High, But Short of Record in 2013
The catastrophe bond market experienced near-record issuance in 2013, with $7.1 billion of global issuance falling just short of the all-time record set in 2007 of $7.6 billion, Fitch Ratings ...
Unnamed Rating Agencies Fail to Follow Criteria, Keep Adequate Records, SEC Says
Credit raters failed to follow their own criteria, allowed research analysts to discuss fees with issuers and kept incomplete records, according to a report from the U.S. Securities and Exchange ...
Capacity Keeping E&S Market Competitive; Berkshire Impact Yet to Materialize: Fitch
Growing capacity will limit rate hikes and promote persistent competition in the excess and surplus lines market, Fitch Ratings said in a report earlier this week. The U.S. E&S market, which ...