Standard & Poor’s News

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, …

Delta Lloyd Remains on CreditWatch Negative, Pending EGM & Rights Issue: S&P

Standard & Poor’s Ratings Services said it is maintaining on CreditWatch with negative implications its “A-” long-term counterparty credit and insurer financial strength ratings on Delta Lloyd Levensverzekering N.V. and Delta Lloyd Schadeverzekering N.V., the core operating companies of the …

Capital Adequacy Is Key Strength of Reinsurers in Difficult Market: S&P

Strength of capital and good enterprise risk management are two of the main reasons the global reinsurance industry will be able to maintain a stable outlook during 2016 from Standard & Poor’s Ratings Services, despite the many competitive pressures it …

Amlin Finalizes Merger of 2 European Subsidiaries, Creating Amlin Insurance SE

Amlin plc, the London-based specialist insurer, announced the successful completion on Jan. 4 of the cross-border merger of two of its insurance company subsidiaries, Amlin Europe N.V. and Amlin Insurance (UK). The combined post-merger insurance company is called Amlin Insurance …

Sompo Japan Canopius Re Gets ‘A’ Rating; to Begin Writing Business on Jan. 1

A.M. Best has assigned a financial strength rating of A (Excellent) and an issuer credit rating of “a+” to Sompo Japan Canopius Reinsurance AG, a wholly owned subsidiary of Canopius Group AG. The outlook assigned to both ratings is stable. Zurich-based Sompo …

It’s a Tough Time for Reinsurers, but Their Defensive Strategies Are Working: S&P

It’s a tough time for reinsurers — “pricing is soft, regulators continue to raise the bar, capital is at record highs, competition is increasing, and reinsurers are constantly looking for ways to remain relevant to cedants’ changing demands for protection,” …

S&P: Reinsurance M&A Will Be Driven by Berkshire Hathaway Model

Reinsurance M&A activity should continue well into 2016 as competitive pressures continue unabated, Standard & Poor’s said in a new report. The ratings firm said that the Berkshire Hathaways of the world – investment holding companies seeking to enter the insurance …

Insurers Unlikely to Be Impaired by Claims From Tianjin Port Explosion: S&P

Insurers are unlikely to be impaired by the loss claims from the explosions in the Chinese Port of Tianjin last week, according to a report from Standard & Poor’s. “Based on our initial investigation, we expect most of the affected …

S&P: ILS Investors Could Get Burned as Covered Perils Expand, Terms Widen

The catastrophe bond market will continue to grow by 10 to 20 percent per year, driven in part by the increase in covered perils and the broadening of event definitions, according to a report published by Standard & Poor’s. But …