All AM Best articles – Page 4
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NewsBest’s Commentary: Strong brands the likely winners of UK Insurance Pricing Review
UK personal lines insurers will need to adjust their pricing models in response to the Financial Conduct Authority’s proposed remedies surrounding the pricing of policies for renewing customers, according to a new AM Best commentary.
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NewsBest’s Commentary: LIBOR transition poses operational and legal challenges for Insurers
With less than a year and a half to go before the London Interbank Offered Rate (LIBOR) will no longer be available, several areas of concern remain, according to a new AM Best commentary. A review of AM Best-rated insurer debt, as detailed in a Best’s Commentary, titled, “LIBOR Transition ...
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NewsAM Best assigns stable outlook to Indonesia’s Non-Life Insurance Market
Despite a bleak macroeconomic picture, Indonesia’s non-life insurance market is well-diversified and underpinned by solid capitalisation, supporting a stable outlook assigned to the segment, according to a new AM Best report.
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NewsBest’s Commentary: Hurricane Delta Likely to Exacerbate Mexico Insurers’ COVID-19-Disrupted Claims Handling
AM Best expects insurance companies operating in Mexico to withstand the impact of Hurricane Delta because of their strong reinsurance programs, although claims management could be a challenge given restrictions on mobility already hampered by the COVID-19 pandemic. In a new Best’s Commentary, “Hurricane Delta Makes First Landfall in Yucatan ...
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NewsBest’s Market Segment Report: Nigeria’s Insurance Market Offers Significant Potential Despite Headwinds
Nigeria’s substantial oil and gas reserves, its young and growing population and its position as Africa’s largest economy continue to point to significant development potential for its insurance sector. However, Nigeria has failed to deliver on that potential historically due in part to the volatility of growth in the country’s ...
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NewsBest’s Market Segment Report: Tough Operating Conditions Present Challenges for Sub-Saharan Reinsurance Markets
For many years, the reinsurance markets of sub-Saharan Africa, though small by global standards, have provided global reinsurers with an opportunity for diversification and profitable revenue growth. However, according to an AM Best report, competition and rising acquisition costs have led to a gradual deterioration in the performance of market ...
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NewsAM Best Comments on Credit Ratings of Barents Reinsurance S.A. Following Relocation Announcement
AM Best has commented that the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of Barents Reinsurance S.A. (Barents Re Lux) (Luxembourg) both with negative outlooks remain unchanged following the company’s announcement of its plans to relocate Barents Re Lux to the United Kingdom ...
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NewsBest’s Market Segment Report: MENA Reinsurers Strive to Adapt to Testing Conditions
Regional reinsurers operating in the Middle East and North Africa (MENA) are no strangers to challenging operating conditions. In recent years, the region’s reinsurance market has been characterised by competitive pricing pressures, overcapacity and increased incidence of large losses.
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AnalysisBest’s Market Segment Report: Asia-Pacific Reinsurers Need to Revisit Strategic Approach in Problematic COVID-19 Era
he challenges from COVID-19 continue to evolve for the Asia-Pacific reinsurance sector, with the related macroeconomic and investment impacts pressuring profitability, according to a new report from AM Best.
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NewsBest’s Market Segment Report: Swiss Re Holds Onto Top Spot in AM Best’s Top 50 Ranking of Global Reinsurers
Swiss Re maintained the top spot in AM Best’s annual ranking of the Top 50 Global Reinsurance groups in 2019 for the second-straight year, and widened its lead over the No. 2-ranked Munich Reinsurance Company, as detailed in the new Best’s Market Segment Report, “Global Reinsurers Maintain Equilibrium Through COVID-19 ...
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NewsAM Best Affirms Credit Ratings of Emirates Insurance Company
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Emirates Insurance Company P.J.S.C. (EIC) (United Arab Emirates). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect EIC’s balance sheet strength, which AM Best categorises as very ...
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ViewpointsHurricane Laura Losses Could Further Stress Insurers’ 2020 Earnings
AM Best expects losses from Hurricane Laura to stress its rated insurance companies’ balance sheets, which already have been weakened by the COVID-19 pandemic.
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NewsAM Best Comments on Port Explosion in Beirut
AM Best is monitoring the situation in Beirut, Lebanon, following the devastating explosion at the city’s port on Tuesday, 4 August. The cause of the explosion, which resulted in many casualties and considerable damage is still under investigation. As the situation is unfolding, the likely effect on the local insurance ...
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Online onlyAM Best to Deploy Pandemic-Related Stress Test for Rated Insurance Companies
AM Best is developing stress testing that it will conduct on its rated insurance companies’ balance sheets to gauge the impact of the COVID-19 virus fallout on their risk-adjusted capital levels, investment portfolios, reserve adequacy and other aspects of the risks borne by rated entities.
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Online onlyAM Best Downgrades Credit Ratings of Qatar General Insurance & Reinsurance Company QPSC
AM Best has downgraded the Financial Strength Rating (FSR) to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” from “a-” of Qatar General Insurance & Reinsurance Company QPSC (QGIRC) (Qatar). The outlook of the FSR has been revised to stable from negative, whilst ...
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