Rating Agencies
Down, Down, Down….AM Best P/C Downgrades Outpacing Upgrades
The number of rated property/casualty personal lines insurers that had their credit ratings downgraded by AM Best more than doubled to 21 in the first-half of 2023, compared to 10 in first-half 2022. ...
Commercial Auto Insurers Face Bleak Profit Outlook
Underwriting losses in U.S. commercial auto have returned to pre-pandemic levels and rate increases have not been enough to keep up with severity trends. "The liability component has been more ...
Outlook on State Farm A++ Rating Now Negative: AM Best
AM Best revised the outlooks of the A++ financial strength rating and aa+ long-term issuer credit ratings of State Farm Mutual Automobile Insurance Company (State Farm Mutual) and two affiliates, the ...
For 5th Straight Year, Surplus Lines Sees Double-Digit Growth: AM Best
Total U.S. surplus lines direct premiums written (DPW) rose by 19.2 percent to reach a record $98.5 billion in 2022, marking a five-year streak of double-digit growth rate increase, according to a ...
First-Half U.S. P/C Underwriting Loss Just $2B Shy of Full-Year Loss for ’22
The net underwriting loss total for the U.S. property/casualty industry, $24.5 billion, is $2 billion less than total losses recorded for all of 2022, according to a new AM Best report. Catastrophe ...
Top 15 E&S Writers: Lloyd’s, Berkshire Still Lead as All Major Players Grow
The U.S. excess and surplus lines market reported double-digit growth for the fifth straight year in 2022,with second-ranked Berkshire Hathaway pushing the total growth figure for the E&S market ...
Reinsurers Continue to Lead in Post-Pandemic Innovation
Innovation in the insurance industry, accelerated by COVID-19, has continued largely due to consumer appetite and market competition, according to a newly released report by AM Best. Predictive ...
Top 15 Non-Life Reinsurers: AM Best’s Latest Ranking
Munich Re still holds the top spot on AM Best's annual ranking of global reinsurance groups but Hannover Re took the No. 2 position in a ranking based solely on non-life reinsurance premium volume. ...