December 6, 2022
High claims inflation and rising reinsurance costs are among the factors that prompted analysts at Moody’s Investors Service to change their outlook for the global property/casualty sector from stable to negative, the rating agency said. In a report published on …
October 26, 2022
Global credit rating agency Moody’s downgraded Fosun International Ltd. by one notch on Tuesday and revised its outlook to “negative” from “ratings under review” amid concerns over the firm’s accelerated asset sales. The downgrade to B2 from B1 followed the …
October 12, 2022
A report from Moody’s Investors Service clearly paints Ian as a loss event for Florida-only home insurers since large, national insurers have significantly reduced exposure in the Sunshine State throughout the years. Six of the top 10 writers of homeowners …
August 24, 2022
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 …
May 19, 2022
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 …
April 1, 2022
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 …
March 24, 2022
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 …
August 19, 2021
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 …
July 22, 2021
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 …
July 1, 2021
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. …