AM Best has assigned a stable outlook to the global cyber insurance segment, citing greater demand and favorable intermediate-term growth prospects as take-up rates steadily improve.
Tag: AM Best
AM Best Revises Outlook for Global Reinsurance Industry to Positive
AM Best has revised its market segment outlook for the global reinsurance segment to positive from stable, citing robust profit margins along with higher attachment points and tighter terms and conditions that followed a period of drastic repricing.
AM Best Director Highlights Importance of Stress Testing in Rating Process
Robert Raber, director of criteria, AM Best, said stress testing involves subjecting rated entities to various scenarios that could affect their balance sheet strength or enterprise risk management to assess their ability to respond
KCC Director: Hurricanes Increasing in Intensity
AM Best Dan Ward, atmospheric scientist and director of model development, Karen Clark and Co., discusses the outlook for the 2024 hurricane season. Ward expects a very active season this year, especially in places such as Florida and Louisiana, as well as wildfire as a secondary peril.
Growing MGA Market Deserves More Oversight: AM Best
Global credit ratings agency AM Best is maintaining a positive outlook on the delegated underwriting authority enterprise (DUAE) market, citing sustained global growth and momentum, as well as the market’s ability to cater to underserved and emerging risks.
Casualty Lines Back Front and Center Amid Social Inflation Crunch
After climate risks and property inflation pushed casualty insurance to the back burner somewhat, it’s returned to being “front and center” as the sector grapples with the impacts of social inflation and rising claim sizes, according to AM Best’s head of industry research.
AM Best Downgrades State Farm General
AM Best has downgraded the Financial Strength Rating (FSR) to B (Fair) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bb+” (Fair) from “a” (Excellent) of State Farm General Insurance Company (State Farm General) (Bloomington, IL).
Hagerty Moves to $9 Million 4Q Net Income, Plans Double-Digit Growth
Automobile specialist Hagerty Inc. improved to a $9 million net income in the fourth quarter from a $32.2 million net loss in the prior-year period.
Despite Heightened Risks, Casualty Reinsurance Renewals See Modest Price Changes
Reinsurers generally maintained adequate capacity for casualty programs during the January reinsurance renewal season, despite concerns about social inflation and recent reserve strengthening actions, according to a new AM Best commentary.
WTW Launches Large Client Unit as CEO Touts Specialty Brokerage Growth
WTW is sharpening a strategic focus on specialty markets, as it progresses with a cost-saving transformation initiative that will wind down by 2025, said the broker’s chief executive officer.