News
Insurance
AM Best has placed the financial strength ratings (FSR) of American International Group (AIG) and its insurance subsidiaries under review with negative implications because of concerns over its reserves. 27 January 2017
Insurance
EMEA insurers take advantage of low interest rates to reduce their debt financing costs, according to an S&P Global Ratings report. 27 January 2017
Insurance
Pricing is the biggest threat to reinsurers’ profitability as combined ratios suggest that the industry is getting close to reporting underwriting losses, according to Fitch Ratings. 27 January 2017
Insurance
The UK re/insurance market is likely to shrink due to the UK’s exit from the European Union as companies reorganize their operations to ensure access to the EU common market. Nevertheless, London is likely to remain an important re/insurance centre after the country exits the EU. 25 January 2017
Insurance
Swiss Re has confirmed that it has received the final approval from the Insurance Regulatory and Development Authority of India (IRDAI) to open a reinsurance branch in Mumbai. 23 January 2017
Insurance
American International Group’s (AIG) $9.8 billion reinsurance deal with Berkshire Hathaway covering US commercial long-tail exposures for accident years 2015 and prior comes at a “significant” cost for AIG but should offer improved earnings stability, according to analysts at CreditSights. 23 January 2017
Insurance
The Covered Agreement between the EU and the US makes these markets more attractive for reinsurers from the opposite side of the Atlantic, increasing competition and therefore adding pressure on pricing and conditions. 20 January 2017
Insurance
Cost implications of continuing to access EU business and any downturn in the UK economy resulting from Brexit are likely to weigh on insurers, according to an AM Best report titled “Brexit Uncertainties Weigh on UK Insurers but Rated Entities Able to Withstand Pressure.” 20 January 2017
Insurance
Private US property/casualty insurers suffered a $1.7 billion net underwriting loss in the first nine months of 2016-following a $7.3 billion net underwriting gain in nine-months 2015, according to ISO, a Verisk Analytics business, and the Property Casualty Insurers Association of America (PCI). 20 January 2017
Insurance
The covered agreement between the EU and the US will establish a level playing field for transatlantic reinsurance business. But as it makes underwriting more attractive for reinsurers from the opposite side of the Atlantic, it is set to increase competition in both markets, adding pressure on pricing and conditions in an already soft market. Other countries like Switzerland don't want to be left behind. 19 January 2017
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