AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Mutual of Enumclaw Insurance Company and Enumclaw Property & Casualty Insurance …
A new AM Best segment report details asbestos and environmental (A&E) losses and reserve decline through the end of 2022. AM Best maintains its estimate for net asbestos losses at $100 billion and environmental losses at $46 billion as of …
U.S. property/casualty underwriting results deteriorated during the first nine months of 2023 to a loss of $32.2 billion. The result, highlighted in short financial review from AM Best, is $7.6 billion worse than the same period a year ago. The …
Persistently strong underwriting performance during and after the global pandemic – despite substantial economic and capital markets volatility – has prompted AM Best to maintain its “stable” outlook for the US property/casualty commercial lines segment. Premium rates for most of …
The U.S. personal lines insurance industry faces too many daunting challenges, leading AM Best to maintain its negative outlook. The outlook for personal lines was changed to negative in September 2022 – at first due in large part to the …
Substantial rate improvements, higher attachment points and rising investment income are combining with increased demand for reinsurance cover to create a stable outlook for the global reinsurance sector, according to AM Best in a report. Of course, headwinds still exist …
AM Best reported a net underwriting loss of $333 million for the U.S. nonstandard auto insurance segment during the first half of 2023 — a year-over-year improvement from the $773 million loss seen in the first six months of 2022. …
Despite the reversal seen in the U.S. equity market and rising inflation and interest rates, property/casualty insurers performed well in 2022, according to the latest report on the long-term impairment rates of U.S.-domiciled insurance companies. The report released earlier this …
AM Best does not believe artificial intelligence is the main cause of recent insurance industry layoffs. In commentary released today, the credit rating agency wrote that “it is too soon to cite AI as the leading cause of the job …
Insurance industry rating agency AM Best has upped its view of the excess and surplus market as it continues to absorb business from the admitted market. AM Best on Monday changed its U.S. E&S outlook from “stable” to “positive,” considering …
