Reinsurance rates are likely to continue to rise in 2024, though at a slower pace than in 2023, and prices will start to fall in 2025, Fitch Ratings analyst Robert Mazzuoli told Reuters on Thursday. Reinsurers – who insure insurers …
The U.S. excess and surplus (E&S) lines market had a good year in 2022, growing to account for nearly 9% of the U.S. property/casualty (P/C) insurance industry. E&S direct written premiums (DWP) increased for the twelfth consecutive year and reported …
Despite extremely challenging conditions, with persistent and elevated claims activity, the global reinsurance segment returned an underwriting profit in 2022, according to an AM Best report. “Reinsurers generally have realigned their risk profiles and are in a strong position to …
Jumps in rates and written premiums did little to move the needle on underwriting profits for U.S. personal auto insurers, Fitch Ratings reported based on a recent review of midyear results of nine big market players. Profitability challenges in the …
Fitch Ratings said it has downgraded the financial strength rating of Kemper Corp’s Trinity Universal Insurance Company to A- (Strong) from A. Trinity Universal of Jacksonville, Florida is Kemper Corp.’s lead property/casualty operating subsidiary. “The downgrades for Trinity and Kemper’s …
With 46 straight days of 100-degree heat and coastal waters approaching hot-tub temperatures, Miami can seem like a clear example of the costs of a warming world. But analysts at S&P Global Inc. aren’t sweating it. They recently upgraded Miami’s …
In the days before hedge fund manager Daniel Loeb decided to drop the buyout of SiriusPoint, Carrier Management asked analysts at AM Best and Fitch Ratings about the pros and cons of taking insurers and reinsurers private. Sridhar Manyem, senior …
This year will mark the fourth year of a hardening market for commercial lines underwriting cycle, according to the latest US Commercial Lines Market Update released by Fitch Ratings. The Council of Insurance Agents & Brokers’ (CIAB) commercial lines market …
Citing declines in statutory capital and poor underwriting results in personal auto, Fitch Ratings has downgraded the insurer financial strength ratings of Allstate P/C insurance subsidiaries to “A” (Strong) from “A+.” Fitch has also downgraded Allstate’s holding company ratings, including …
Analysts at Fitch Ratings predict a better underwriting result for U.S. property/casualty insurers in 2023 than 2022, but the combined ratio is still going to hover above breakeven, according to their forecast. Fitch forecasts a 100.4 industry combined ratio for …
