A doubling in the trust holdings of China’s insurers has prompted ratings companies to warn the industry may be taking on too much shadow banking default-risk. Insurers held 281 billion yuan ($46 billion) of trust products on June 30, surging …
Insured losses stemming from two Hawaii hurricanes won’t break the bank, in large part because both storms diminished in intensity or avoided a direct hit. Fitch Ratings concluded in a review of the situation that outstanding catastrophe bonds including the …
Fitch Ratings has revised its outlook to stable from negative, reflecting expectations that insurers’ profit and capital adequacy will be resilient amid the Italian recession. The outlook also reflects reduced credit risk on certain Italian insurers’ balance sheets, following the …
Fitch Ratings announced that it has upgraded Lloyd’s of London’s Insurer Financial Strength (IFS) rating to ‘AA-‘ from ‘A+’, and has also upgraded the Society of Lloyd’s Long-term Issuer Default Rating (IDR) to ‘A+’ from ‘A’ and Lloyd’s Insurance Company …
Commercial automobile insurers reported a third consecutive year of underwriting losses in 2013. According to an analysis by Fitch Ratings, the combined ratio came in at 106 for 2013 compared with 107 for 2012. In a special report, “Commercial Auto …
Fitch Ratings said it “believes that the insurance industry and the ratings currently assigned to P&C companies in Nicaragua and Mexico will not be affected by the earthquakes that recently hit these countries.” Nicaragua experienced an earthquake on Thursday, April …
A bulletin from Fitch Ratings indicates that, based on preliminary analysis, Chile’s insurance industry solvency “will not be affected by the recent Iquique earthquake and tsunami. Chilean property/casualty (P&C) insurance industry will likely absorb limited losses from the earthquake and …
Fitch Ratings said it maintains a stable rating outlook for the U.S. commercial lines sector due to improving profitability over the past two years and strong capital levels allowing insurers to withstand considerable adversity. Fitch’s fundamental outlook on the commercial …
As federal subsidies for flood insurance are reduced and the cost of government provided insurance goes up, the demand for private flood coverage could also rise, according to Fitch Ratings. However, it remains to be seen if the private reinsurance …
Severe winter weather is causing large losses for property/casualty insurance companies in early 2014, however there should be no rating impact as a result, according to Fitch Ratings. The severe winter weather from Jan. 1 to Feb. 21 has generated …
