Regulation & Compliance
Fitch Revises Global Re ‘Sector’ Outlook to Negative; Rating Outlook Stable
On Friday, Fitch Ratings announced a dimmer "sector outlook" for global reinsurers—changing it to negative from stable, pointing to increased concerns over COVID-19. Rating agencies like Fitch ...
How Silence May Impact Commercial Insurers on COVID Cover
Silence may be deadly for property/casualty insurers writing commercial insurance, an executive of an InsurTech that specializes in analyzing insurance policy language suggested recently, explaining ...
Providence Mutual Is Dealt an A.M. Best Financial Strength Rating Downgrade
The Providence Mutual Fire Insurance Company has been dealt a financial strength rating downgrade from A.M. Best. A.M. Best said its decision to downgrade the insurer's financial strength rating to ...
AM Best Pandemic Stress Test Announced
Although AM Best believes property/casualty insurers won't be as severely impacted by the COVID-19 pandemic as life and annuity players, the rating agency said yesterday that it will be ...
P/C Innovation Leaders Scarce, AM Best Finds; Reinsurers Reign
In an initial test of its new innovation assessment scores, AM Best found that only 1 percent of rated property/casualty insurers merit scores high enough to categorize them as innovation leaders, ...
Arch Capital Acquires Minority Stake in Trade Credit Insurer Coface
Arch Capital Group Ltd. has purchased a minority stake in Coface, a trade credit insurer based in France. The transaction involves the acquisition of a 29.5 percent stake. Arch will pay €10.70 per ...
Saudi Arabia Seeks to Raise Insurer Capital Requirements
Saudi Arabia is working on new regulations that would raise capital requirements for the kingdom's overcrowded insurance sector, its central bank governor said in an interview with Bloomberg TV. The ...
Storm Ciara (AKA Sabine) Could Cause $2B in Insured Losses: RMS
Total insured property losses from storm Ciara, which was named Sabine in Germany, could be between 1.1 billion and 1.8 billion euros ($1.2 billion-$1.95 billion), catastrophe risk modeling firm RMS ...