AM Best is revising its outlook on the excess and surplus (E&S) lines insurance segment to positive from stable, citing increased business due to declining capacity in commercial lines and some personal lines markets, along with strong underwriting results driving favorable operating profitability and strengthened capital positions.
Tag: AM Best
U.S. P&C Industry 2022 Loss & LAE Reserves Slightly Redundant: Best Report
The U.S. property/casualty (P/C) segment reported its 17th consecutive year of favorable reserve development based on 2022 calendar year results, according to a new AM Best special report
AM Best: U.S. P&C Rating Downgrades Outpace Upgrades in First-Half 2023
The U.S. property/casualty (P/C) insurance industry experienced an increase in Credit Rating (rating) downgrades in the first half of 2023, reflecting a difficult period for the personal lines segment, according to a new AM Best report.
Growth in Insurers’ Private Equity Investments Slowed Significantly in 2022
U.S. insurance companies’ private equity investments slowed in 2022, rising just 3.3% in 2022 to $132.0 billion, following a year of exceptional growth in the previous year, according to a new AM Best report.
Impact of U.S. Government Shutdown on Insurance Industry Will Depend on Duration
A U.S. government shutdown, which would have an immediate impact on the economy, also could directly affect insurers, though the severity would largely hinge on the length of time before Congress reaches a budget agreement, according to a new AM Best commentary.
The Future of Fronting Companies
Fronting companies are facing challenges and greater scrutiny amid the recent Vesttoo scandal and Trisura matter with rating agencies and other stakeholders taking a closer look at the use of LOCs for reinsurance collateral. Following is an overview of the fronting market and what happened over the last several months to put this insurance model in the news.
AM Best Revises Outlook on U.S. Homeowners Insurance Segment to Negative
Given three consecutive years of net underwriting losses in the U.S. homeowners insurance segment combined with other ongoing market challenges, AM Best has revised its outlook on the segment to negative from stable.
AM Best: Secondary Perils, Inflation Underlie Volatile Operating Results for U.S. P/C Mutual Insurers
Although rated U.S. property/casualty mutual insurance companies saw notable premium growth in 2022, carriers still recorded a $31 billion underwriting loss due to higher claims costs amid elevated inflation, according to a new AM Best report.
AM Best: Fifth Straight Year of Double-Digit Growth for the U.S. Surplus Lines Segment in 2022
Total U.S. surplus lines direct premiums written (DPW) marked a double-digit growth rate increase for the fifth consecutive year, climbing by 19.2% to reach a record $98.5 billion in 2022, according to a new AM Best report.
AM Best: U.S. P/C Industry Records $24.5B Underwriting Loss in the 1H 2023
The U.S. property/casualty (P/C) industry recorded a $24.5 billion net underwriting loss in the first half of 2023, nearly eclipsing the $26.5 billion in total losses recorded for all of 2022, according to a new AM Best report.