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A.M. Best
A.M. Best projects combined ratio of 100.3% for U.S. industry in 2017
January 30, 2017 by Canadian UnderwriterThe industry-wide combined ratio of the United States property & casualty insurance industry is estimated to have deteriorated by 2.4 points to 100.7% in 2016, A.M. Best Company Inc. said in a recent report. The decline in underwriting performance “was…
Adverse development charge highlights AIG’s challenges with longer tail commercial lines: A.M. Best
January 27, 2017 by Canadian UnderwriterA week after American International Group Inc. announced it expects to report next month a “material prior year adverse development charge” for Q4 2016, A.M. Best Company Inc. has placed the long-term issuer credit rating of the New York City-based…
Catastrophe bond issuance has ‘gradually tapered off:’ A.M. Best
January 7, 2017 by Canadian UnderwriterThe entry of third-party capital into the reinsurance market appears to be slowing down, while demands from reinsurers “for further concessions in terms” appear to be diminishing, A.M. Best Company Inc. suggested in a report released Friday. Oldwick, N.J.-based A.M.…
U.S. personal auto industry showing signs of weakening underwriting and operating ratios: A.M. Best
December 19, 2016 by Canadian UnderwriterThe personal automobile insurance industry in the United States is exhibiting signs of weakening underwriting and operating results, mainly driven by rising loss ratios, according to a new A.M. Best special report. A.M. Best reached this conclusion in its report,…
U.S. personal lines stable, commercial lines remain negative in A.M. Best’s 2017 outlooks
December 14, 2016 by Canadian UnderwriterRatings firm A.M. Best is maintaining a stable outlook for 2017 on the personal lines segment of the property and casualty industry in the United States, while also maintaining a negative outlook on commercial lines. The Oldwick, N.J.-based firm maintained…
Impact of June Ontario auto changes ‘will be something to see going forward:’ A.M. Best
November 13, 2016 Greg Meckbach, Associate EditorIt is too early to gauge the exact financial impact, on insurers, of Ontario auto changes that took effect this past June, and in the meantime, the mandated 15% rate reduction announced three years ago is still affecting loss ratios,…
Fort McMurray will hit Canadian’s p&c industry financial results in 2016: A.M. Best
November 9, 2016 by Canadian UnderwriterCurrent-year financial results for Canada’s property and casualty industry – which were once again strong in 2015 – are expected to take a hit in the wake of the Fort McMurray wildfire loss, notes a new report from A.M. Best.…
A.M. Best maintains stable outlook for Canadian P&C industry; financial results strong again in 2015
November 8, 2016 by Canadian UnderwriterRatings firm A.M. Best Company continues to maintain a stable outlook for the Canadian property and casualty insurance industry, noting that it has “historically shown resilience and the ability to adapt when necessary.” A.M. Best’s stable outlook is based primarily…
Hurricane Matthew damage significant, but manageable, for U.S. insurers: A.M. Best
October 18, 2016 by Canadian UnderwriterMost insurance carriers rated by A.M. Best have sufficient capital and appropriate reinsurance programs to effectively absorb Hurricane Matthew losses, notes a new briefing from the rating agency. That being the case, A.M. Best reports it does not anticipate a…
Hurricane Matthew unlikely to have material impact on insurance market: Willis Towers Watson
October 7, 2016 by Canadian UnderwriterWith Hurricane Matthew weakening and being downgraded, it is less likely it will reach the US$30 billion initial loss estimates offered by catastrophe modelling firms, said Gary Marchitello, head of property broking with Willis Towers Watson (WTW). “The US$30 billion…
U.S. surplus lines financially sound despite market pressures and economic challenges: A.M. Best
September 20, 2016 by Canadian UnderwriterUnderwriters of surplus lines in the United States generated growth in direct premium of 2.5% in 2015, the smallest annual increase in the last five years, according to an A.M. Best special report released on Monday. The Best’s Special Report,…
U.S. P&C insurance industry posts underwriting loss of US$2.3 billion in first half of 2016: A.M. Best
September 16, 2016 by Canadian UnderwriterThe property and casualty insurance industry in the United States posted an underwriting loss of approximately US$2.3 billion and a 3.5% decline year-over-year in net investment income through the first six months of 2016, said a new A.M. Best Company…