All AM Best articles – Page 3
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NewsReduced COVID impact benefits US-Bermudian reinsurers
Favourable reserve development is expected to continue, but there is still inflation to contend with, warns AM Best
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NewsReinsurance capital could shrink in 2022 - AM Best
Driven by losses in investment markets, another severe property cat season could prove “adverse”
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NewsBest affirms Swiss Re ratings; puts ICR on ‘negative’
Negative outlook on the reinsurance group’s long-term issuer credit rating reflects operating performance pressure
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NewsMunich Re retains position as world’s largest reinsurer
Together, Munich Re and Swiss Re accounted for 24.3% of reinsurance gross premiums written in 2021 - AM Best
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NewsShift away from cat risks creating more “stable” market
A number of re-alignment initiatives have been taking place for at least the last three years, notes AM Best
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NewsMarsh McLennan continues to lead global brokers
The expected Aon/WTW merger that would have affected this year’s AM Best ranking was called off last year
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NewsUS D&O market posts best results since 2014
Rate hikes exceeding 10% per quarter fuelled direct premium growth of 35% to $14.6 billion
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NewsAM Best lowers Argo Re’s BCAR score
Material adverse reserve development in 2021 raises new concerns
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NewsReinsurance sector retains stable outlook - AM Best
Hardening trend is expected to continue in 2022 after major cat losses in 2021
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NewsAM Best takes negative rating action amid Russia-Ukraine tensions
Credit rating agency AM Best has placed under review the financial strength rating (FSR) and long-term issuer credit rating of several Russian insurance companies.
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NewsBest’s Market Segment Report: Realistic Optimism in the Current Reinsurance Market
Offering market observations are two of the reinsurance industry’s leaders—Kathleen Reardon, chief executive officer of Hiscox Re & ILS; and Juan Andrade, chief executive officer of Everest Re Group
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NewsAM Best downgrades credit ratings of Arab Reinsurance Company SAL
In AM Best’s view, economic, political and financial system risk in Lebanon, which was already elevated, has continued to rise following the devastating explosion in the port of Beirut on Aug. 4, 2020, and the subsequent resignation of the government.
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NewsAM Best releases Country Risk Assessment Report on Iraq
The Country Risk Tier of CRT-5 for Iraq reflects a very high level of economic, political and financial system risk.
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NewsGroup Ark Insurance has been assigned a financial strength rating of A (Excellent) by AM Best
AM Best said: “The ratings reflect Ark’s consolidated balance sheet strength, which AM Best categorises as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management, and are based on the group’s five-year business plan.
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NewsAM Best Maintains Global Reinsurance Market Outlook at Stable
The COVID-19 pandemic has added more uncertainty to a segment that has experienced increased loss activity in recent years. As a result, reinsurers’ ability to rely on favorable prior-year reserve development has been diminishing steadily.
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NewsAM Best places credit ratings of GIG under review with developing implications
The under review with developing implications status reflects AM Best’s uncertainty over the group’s post-acquisition risk-adjusted capitalisation, leverage and liquidity.
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NewsBest: Europe’s Captive segment poised for growth amid hardening Insurance conditions
Commercial insurance rate increases are expected to drive an uptick in new captive formations and greater utilisation of existing captives in Europe, according to a new AM Best report.
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NewsAustralia Business Interruption test case raises more questions than answers for Insurers
The judgment handed down by the New South Wales Court of Appeal brings into sharp focus the potential downside risk for the industry.
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NewsNew Bermudian reinsurer Vantage Risk assigned A- rating
Vantage plans to expand into primary insurance lines and operate as Vantage Group. Dinos Iordanou, formerly of Arch Capital Group Ltd., will serve as a non-executive chairman for the greater group, with Greg Hendrick, formerly of Axa XL, serving as the group’s chief executive officer.
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NewsAM BEST AFFIRMS CANOPIUS’ FINANCIAL STRENGTH RATING
The ratings reflect Canopius’ balance sheet strength, which AM Best categorises as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
