Fitch News

Q3 Catastrophe Losses Will Bring Rate Hikes by London Market Insurers: Fitch

Catastrophe losses from the recent U.S. hurricanes and Mexican earthquakes will lead to price rises on London market insurers’ loss-affected lines and could also affect wider market pricing trends, according to Fitch Ratings in a new report. The total industry …

Self-Driving Cars to Transform Motor Insurance in Liability Shift: Fitch

Widespread use of autonomous vehicles will completely transform the motor insurance sector over the long term when liability begins to shift towards manufacturers and traditional risk pools shrink, according to a report published by Fitch Ratings. “The question of who …

Workers’ Comp Line Achieves ‘Significant’ Profit in 2015: Fitch

The U.S. workers’ compensation insurance market achieved a “significant” underwriting profit in 2015, but trends call into question whether such a result can be repeated, Fitch Ratings concluded in a new report. For 2015, the workers’ compensation combined ratio came …

Fitch: Florida Specialist Insurers Largely Untested By Hurricanes

The majority of Florida’s homeowner specialist insurers have brief histories, and their ability to manage a large catastrophic hurricane is uncertain despite recent strong performance, according to a new report from Fitch Ratings. The last hurricane to make landfall in …

UK’s Flood Re Launches to Bring Affordable Flood Cover to Homeowners

The U.K.’s new joint industry and government sponsored reinsurance scheme for flood risk began operating today (April 4). Designed to help provide access to affordable flood insurance cover for households at the highest risk, Flood Re expects up to 350,000 …

Strong Reinsurer Results Hide Difficult Business Conditions: S&P, Fitch Reports

Weak business conditions in the reinsurance industry are being masked by a low level of catastrophes and a high level of reserve releases, said Standard & Poor’s Ratings Services and Fitch Ratings in new reports. “Stripping out these two factors, …

PartnerRe’s $6.9B Sale to EXOR Completed; Fitch Issues Downgrade

PrtnerRe’s new owner EXOR has closed its $6.9 billion acquisition of the Bermuda-based reinsurer, and Fitch Ratings quickly responded with a ratings downgrade that reflects some pessimism over the transaction and the broader market. Fitch said it downgraded PartnerRe’s insurer …

Insurers Could Find an Early-Mover Advantage from Telematics: Fitch

The motor insurance industry faces a significant shake-up from two waves of technological innovation – the growth of telematics and the development of driverless cars, according to Fitch. Over the short term, telematics will have a bigger impact on the …

Fitch’s Rendez-Vous Roundup: 4 Hot Topics Affecting Reinsurance Industry

Fitch published a list of key takeaways from last week’s reinsurance Rendez-Vous in Monte Carlo, where some of the major trends affecting the industry were discussed: mergers & acquisitions, alternative capital, pricing and the Tianjin Port explosion in China. Meetings …

Tier 1 Reinsurers More Resilient than Smaller Firms in Current Market: Fitch

Major tier 1 reinsurers stand to benefit most from a changing reinsurance market and mounting competitive pressures, while small mono-line companies will be the hardest-hit, according to a reinsurance report published by Fitch. Reported financial results confirm that major Tier …