The motor insurance industry faces a significant shake-up from two waves of technological innovation – the growth of telematics and the development of driverless cars, according to Fitch. Over the short term, telematics will have a bigger impact on the …
Fitch published a list of key takeaways from last week’s reinsurance Rendez-Vous in Monte Carlo, where some of the major trends affecting the industry were discussed: mergers & acquisitions, alternative capital, pricing and the Tianjin Port explosion in China. Meetings …
Major tier 1 reinsurers stand to benefit most from a changing reinsurance market and mounting competitive pressures, while small mono-line companies will be the hardest-hit, according to a reinsurance report published by Fitch. Reported financial results confirm that major Tier …
The reinsurance market showed signs of decelerating rate declines in its most recent June/July 2015 renewals, indicating that pricing could be approaching a new equilibrium, says Fitch Ratings in a new global sector report. Reinsurance pricing has experienced downward pressures …
Insurance claims from the devastating explosions at the Chinese port of Tianjin last week could exceed initial estimates and strain the finances of regional insurers, credit ratings agency Fitch said on Tuesday. Credit Suisse analysts estimated that total insurance losses …
Fitch Ratings has assigned an ‘AA-‘ rating to the following senior secured bonds of the Citizens Property Insurance Corp., Coastal Account (formerly known as the High Risk Account): –$750 million series 2015A-1; –$250 million series 2015A-2 (SIFMA FRN). The bonds …
Emergency officials say about 75 homes are destroyed and hundreds of people have evacuated the area after a wildfire burned up to 2 square miles in the Texas Panhandle. The Texas Department of Public Safety said in an email that …
German public-sector insurers, which include Versicherungskammer Bayern and Provinzial Nordwest Holding AG, are unlikely to merge, Fitch Ratings said. “There is no requirement for such a high number of public- sector insurers,” the ratings firm said in a statement today, …
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, …
Analysts at two rating agencies, Fitch and Moody’s, believe property/casualty insurers’ prior-year loss reserve takedowns will continue to outpace reserve additions in 2013. The analysts spoke about P/C industry reserving trends as they reviewed their year-end outlooks and 2013 forecasts …
