Rating Agencies
When Higher Pricing <> Underwriting Profit or Double-Digit Returns
In spite of premium increases that primary insurance carriers will record for 2023, the U.S. property/casualty industry as a whole won't report an underwriting profit or a double-digit return for the ...
More P/C Carriers With Less Surplus: Aon Ward Analysis
As we head into 2024, many property/casualty companies are primed to grow their businesses, but not all have adequate levels of surplus to support premium growth, an Aon Ward executive said during a ...
AM Best Revises James River Group Outlook to Negative
AM Best has revised the outlook for James River Group Holdings Ltd and most of its subsidiaries and has downgraded the credit ratings of JRG Reinsurance Company.
Title Insurer Reports Another Cybersecurity Event; Fitch Monitoring Ratings
Less than a month after New York insurance regulators said a title insurer would pay $1 million for violations of a cybersecurity regulation stemming from a 2019 breach, the holding company for the ...
Florida Insurers Got Creative About Reinsurance in ’23: KBRA
Things are looking up in the buffeted Florida market, but reinsurance rates will continue to rise for the next two years, and a 2024 hurricane season could be busy. It all suggests that property ...
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 ...
U.S. Personal Lines Outlook Continues to Be Negative: AM Best
The U.S. personal lines insurance industry faces too many daunting challenges, leading AM Best to maintain its negative outlook. The outlook for personal lines was changed to negative in September ...
Artificial Intelligence Not Main Cause of Recent Insurance Layoffs: AM Best
AM Best does not believe artificial intelligence is the main cause of recent insurance industry layoffs. In commentary released today, the credit rating agency wrote that "it is too soon to cite AI ...
CSE ‘Runoff’ Prompts Downgrade, Withdrawal of AM Best Ratings
AM Best announced that is has downgraded and withdrawn the financial strength ratings of CSE Insurance Group's Civil Service Employees Insurance Company and CSE Safeguard Insurance Company, ...