Moody’s News

Alberta Wildfires Could Cost $7B with Minimal Insurer Credit Hit: Ratings Agencies

The Fort McMurray wildfires, which have been raging through northern Alberta, Canada since May 1, are likely to be the costliest natural disaster in Canadian history, according to recent reports issued by catastrophe modeling firm AIR Worldwide, rating company DBRS …

Costly Alberta Wildfires to Hit Q2 Results; Insurers Are Resilient: Ratings Reports

While the wildfires raging through northern Alberta and the city of Fort McMurray could bring one of the largest catastrophe losses in Canadian history, property insurers are resilient, according to A.M. Best and Moody’s in separate reports. The fire has …

‘Brexit’ May Threaten UK Shipping, Marine Insurance Sectors

If Britain votes to leave the European Union, the country’s shipping sector faces years of disruption as trade agreements get reworked and currency volatility leads to higher costs at a time when the industry is battling its worst global downturn. …

Europe’s Insurers Turn to Risky Property Investments, in Hunt for Better Returns

Traditionally conservative European insurers and pension funds are turning increasingly to risky property bets on everything from new homes in provincial Britain to car parks at Brussels airport, as they feel the pinch from rock-bottom interest rates. While much is …

Cyber Attacks on Private Sector a Growing Corporate Credit Risk: Moody’s

Cyber attacks on the private sector are an increasingly important risk in corporate credit analysis, U.S. ratings agency Moody’s Investors Service said this week. The threat of computer hacking varies from sector to sector and remains hard to measure because …

Fairfax Financial to Benefit From its Acquisition of Brit plc: Moody’s Report

The proposed acquisition of Brit plc by Fairfax Financial Holdings is “credit positive” for Fairfax, according to Moody’s, which noted that the deal will significantly boost Fairfax’s underwriting capacity at Lloyd’s in a recently published report. Also citing the benefits …

European Insurers Shifting Investments Into Loan Market, Acting Like Banks: Moody’s

European insurers such as Allianz SE and Axa SA are shifting investments into the loan market, taking business from banks that are being forced to increase capital and meet tougher regulations, Moody’s Investors Service said. The insurance companies are moving …

New Global Ratings Agency to Vie with Moody’s, S&P, Fitch

Credit ratings organisations from five countries are launching a new global agency, touting it as an alternative to the Big Three agencies which they say no longer meet the needs of the new globalised world. In a statement on Tuesday, …

Moody’s: China’s P/C Insurers to Benefit from Shanghai Free Trade Zone

The new Shanghai free trade zone should benefit property/casualty insurers, particularly those in marine/cargo and liability insurance, according to Moody’s Credit Outlook. On Sept. 29, the date that Shanghai’s municipal government’s launched its free trade zone, the China Insurance Regulatory …

Moody’s: Moderate Reserve Releases in U.S. P/C Industry to Continue

U.S. property and casualty (P/C) insurers continue to release reserves to support earnings, said Moody’s Investors Service in two recent reports. U.S. P/C insurers released $9.0 billion of reserves during the first six months of 2013, with a significant portion …