The inland marine insurance segment has grown steadily in the past decade in tandem with increases in construction spending and the transport of goods, with direct premiums written nearly doubling to $24.5 billion in 2018 from $13.3 billion in 2009, according to a new AM Best special report. The Best’s Market Segment Report, titled, “Economic… Continue reading Economic Growth and Specialization Bolstering Inland Marine Expansion: Best
Tag: A.M. Best
Preliminary 1Q 2019 Results Show 24% Underwriting Income Bump for U.S. P/C Industry: A.M. Best
The U.S. property/casualty (P/C) industry posted net underwriting income of $4.2 billion in first-quarter 2019, according to preliminary financial results, a 24.0% increase from the same period in the previous year. This financial review is detailed in a new Best’s Special Report, titled, “First Look—3 Month Property/Casualty Financial Results,” and the data is derived from… Continue reading Preliminary 1Q 2019 Results Show 24% Underwriting Income Bump for U.S. P/C Industry: A.M. Best
U.K. Insurers Rated by A.M. Best Well Prepared for Brexit
The terms and timing of the United Kingdom’s withdrawal from the European Union (EU) remain uncertain following the vote in the House of Commons on March 12, 2019 rejecting the deal agreed with the EU by Prime Minister Theresa May’s government, and the subsequent vote in favour of requesting an extension of Article 50. If… Continue reading U.K. Insurers Rated by A.M. Best Well Prepared for Brexit
Opportunities for Insurers in Emerging U.S Cannabis Market: A.M. Best
The rapidly emerging U.S cannabis market offers significant opportunities for daring insurance carriers, according to A.M. Best, although conflict between the drug’s legal status at the state versus federal level has so far been a deterrent for many. The rating agency noted that there is demand for coverage from a broad array of industry participants,… Continue reading Opportunities for Insurers in Emerging U.S Cannabis Market: A.M. Best
U.S. Property/Casualty Rating Downgrades Rise Markedly in 2018
Credit rating downgrades in the U.S. property/casualty (P/C) insurance segment more than doubled year over year in 2018, reversing a trend of annual declines since 2014, due to factors that included catastrophic weather losses, challenging pricing in competitive lines of business and capital market volatility, according to a new AM Best report. However, according to… Continue reading U.S. Property/Casualty Rating Downgrades Rise Markedly in 2018
Casualty Erosion Prompts A.M. Best to Downgrade Allied World Rating
The Long-Term Issuer Credit Ratings (Long Term ICR) of Allied World Assurance Company and its affiliates has been downgraded by AM Best from a+ to a, while its Financial Strength Rating (FSR) of A (Excellent) has been affirmed. The ratings agency has also downgraded the Long-Term ICR of Allied World’s parent, Allied World Assurance Company… Continue reading Casualty Erosion Prompts A.M. Best to Downgrade Allied World Rating