S&P Global Ratings News

Australia’s Insured Losses From Cyclone Alfred Could Top US$1.3 Billion: S&P

Australia’s largest property and casualty (P/C) insurers should be well placed to manage claims stemming from tropical cyclone Alfred, which could top A$2billion (US$1.3 billion), according to a report published by S&P Global Ratings. While the path and strength of …

Viewpoint: New Year, Old Challenges for European Insurers

The European insurance sector saw high levels of claims inflation in 2024. In motor-related material damage in particular, claims inflation is still outpacing the Consumer Price Index, and we could see primary insurers continuously increasing premium rates in 2025. While …

LA Fires Could Consume 30% of European Reinsurers’ Natural Disaster Budgets: Fitch

The Los Angeles wildfires could consume more than 30% of the aggregate natural catastrophe budgets set for 2025 by Europe’s four largest reinsurers – Swiss Re, Munich Re, Hannover Re and SCOR, according to a Fitch Ratings commentary. Insured losses …

Update: Re/Insurer Losses From LA Wildfires Expected to Be Significant but Manageable

Insurers are facing significant losses from the catastrophic Los Angeles wildfires — given the high value of homes and businesses in the affected communities. However, those losses are likely to be manageable for both insurers and their reinsurers, with preliminary …

Central European Insurers’ Financial Strength to Remain Solid Despite Severe Floods

The heavy rains and severe floods of Storm Boris, which inundated Central and Eastern Europe during the second week in September, will be the most severe flood event in about a decade, carrying an insurance price tag of an estimated …

Reinsurers’ Appetite for Natural Catastrophe Risks Grows – But Discipline Remains

Top reinsurers are showing increasing – but disciplined – appetite for natural catastrophe risks as a result of rising demand, better pricing, more favorable terms and conditions, and sound investment income, according to a report published by S&P Global Ratings. …

S&P Upgrades Lloyd’s Financial Strength Rating to AA-

S&P Global Ratings has revised its financial strength rating for Lloyd’s of London to “AA–”, outlook stable, from “A+”, outlook stable. The rating upgrade reflects the improvement in Lloyd’s balance sheet strength, which S&P has assessed to be “excellent,” as …

Parent of Key SiriusPoint Shareholder Goes Into Receivership; Ratings Impact Neutral

SiriusPoint Ltd., the Bermuda-based specialty insurer and reinsurer, announced that the parent company of a key shareholder has been taken into private receivership by its lenders in Singapore. CMIG International Holding Pte Ltd (CMIH) is the parent company of CM …

S&P Raises Reinsurance Sector View to Stable From Negative as Rates Keep Rising

S&P Global has raised its view of the global reinsurance sector to stable from negative, it said on Tuesday, due to higher reinsurance rates and increasing investment income, while rival Moody’s kept its outlook for the sector stable. The COVID-19 …

Reinsurers’ Cyber Rates Expected to Rise as They Seek to Regain Profitability: S&P

More cyber reinsurance rate increases can be expected as reinsurers seek to regain underwriting profits in their cyber portfolios, according to a report published by S&P Global Ratings. “Reinsurers had a difficult 2022 due to low profitability and even underwriting …