Moody’s Investors Service News

Rising Premiums, Low Catastrophe Losses Boost U.S., Bermuda Reinsurers’ H1 Profits

U.S. and Bermuda reinsurers reported strong operating performance for the first six months of 2022, supported by continued pricing increases in most reinsurance and specialty lines of business as well as tighter terms and conditions and low catastrophe losses, according …

Home, Commercial Rate Hikes Not Enough to Offset Construction Costs: Moody’s

To counteract rising construction material costs that have increased about 26.7% the first four months of 2022, personal and commercial property insurers will continue to gradually increase rates, said Moody’s Investor Service. The rating agency said insurers have been “raising …

Property Catastrophe Reinsurers Show Greater Risk Appetites as Price Hikes Continue

Reinsurers have boosted their 2022 probable maximum loss (PML) exposures as higher prices continues to attract more capital to property-catastrophe risks, according to Moody’s Investors Service. Reinsurers’ public disclosures of their Jan. 1, 2022 modeled probable maximum loss (PML) exposures …

Russia’s Seizure of Foreign Jets Triggers Wave of Insurance Claims From Leasing Firms

Russia’s move to transfer almost 800 foreign-owned jets to its own aircraft register amid foreign sanctions has triggered a wave of insurance claims from leasing firms whose fleets have effectively been commandeered. Lessors will assert that registering the planes in …

Europe Reinsurers’ H1 Profits Climb on Lower COVID Claims, Hardening Prices: Moody’s

The four largest European based reinsurers – Munich Re, Swiss Re, Hannover Re and SCOR – reported sharply higher profits in the first half of 2021, compared with the same period in 2020 — as a result of lower COVID-19 …

Germany’s Floods Will See ‘Sizable’ Protection Gap. Could Insurance Demand Increase?

With an insured price tag of €4 billion to €5 billion (US$4.7 billion to $5.9 billion), economic losses from Germany’s recent floods are likely to be significantly higher, which highlights a sizable insurance “protection gap.” This protection gap – or …

Some Scientists See More Intense, Wetter Hurricane Season Storms

Like death and taxes, the annual hurricane season can be counted on as a sure thing. The number and intensity of named storms may vary each year, as well as where they occur and whether or not they make landfall. …

Swiss Re Sells Half Its Stake in Phoenix Group for $608 Million

Swiss Re announced the sell of a 6.6% stake in Phoenix Group Holdings plc for £437 million ($608 million). After the sale, which is expected to close on June 25, Swiss Re will still retain another 6.6% stake in Phoenix, …

Europe’s Insurers Expect Robust M&A Activity and Strong Earnings in 2021: Moody’s

Europe’s insurance industry is emerging from the coronavirus crisis with a stronger appetite for mergers and acquisitions (M&A), along with expectations for strong earnings growth in 2021, according to Moody’s annual survey of chief financial officers (CFOs) from 21 leading …

Initial Reactions to UK Supreme Court’s Ruling on Business Interruption Claims

Insurers, policyholders and industry observers have issued comments on the UK Supreme Court’s ruling that insurers should pay small businesses for many business interruption claims from the COVID-19 lockdowns. The UK Supreme Court dismissed appeals by six insurers – Hiscox, …