Standard & Poor’s News
Too Late? S&P Downgrades State Farm General (Updated)
Standard & Poor's Global Ratings announced a two-notch downgrade of State Farm General on May 13—on the same day that California's regulator approved an interim emergency homeowners rate ...
Mercury General Wildfire Losses Will Hit Reinsurance Cover. One Event?
Mercury General Corporation said it expects losses from wildfires burning in California since Jan. 7 to exceed its $150 million reinsurance retention, without providing a specific dollar estimate of ...
Reinsurers’ Appetite for Natural Catastrophe Risks Grows
Top reinsurers are showing increasing – but disciplined – appetite for natural catastrophe risks as a result of rising demand, better pricing, more favorable terms and conditions, and sound ...
U.S. Commercial Auto Carriers Face Some Bumps on the Road to Profitability: S&P
U.S. commercial auto insurers face some blips and disruptions on their road to profitability due to inflation and the spotty post-pandemic economic recovery, according to a new Standard & Poor's ...
Carriers Marketing Usage-Based Auto Insurance Have Multiple Obstacles to Overcome: S&P Analysis
Usage-based personal auto insurance may be drawing ever-increasing attention. Its wider adoption is stymied, however, by customer age and demographics, privacy concerns, misunderstanding about the ...
Cyber Risk Increasingly Threatens Credit Ratings: S&P
Cyber risk is becoming increasingly relevant to insurer credit ratings, according to a new report from S&P Global Ratings. S&P cited the Colonial oil pipeline attack in the U.S. in late ...
COVID Took a Big Bite From Multiline Insurers’ Earnings But Profit Remained: S&P
The COVID-19 crisis cost 16 global multiline insurers about $8 billion in 2020, although they still reported substantial net profit of $36 billion, according to a report published by S&P Global ...
Carrier M&A Activity Could Reach Record Levels in 2021: S&P
Carrier mergers and acquisitions could reach historic levels in 2021 based on early indications from a robust first quarter, according to a new Standard & Poor's report. U.S. and Bermuda-based ...