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Fitch Ratings

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Cyber influence on insurer ratings mostly gradual: Fitch

November 13, 2017 by Canadian Underwriter

The influence of cyber risk on insurer ratings is likely to be gradual, Fitch Ratings has reported. Cyber insurance represents a relatively small percentage of insurers’ business and insurers are taking a cautious approach to growing coverage, given the uncertainty

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Global cyber premiums to increase six- to eightfold within a decade: Fitch

September 28, 2017 by Canadian Underwriter

Global cyber premium volume is set to increase six- to eightfold within a decade, according to a new report from Fitch Ratings. Released on Wednesday, the report Cyber Insurance – Risks and Opportunities (Global Non-Life Insurer Underwriting Exposures Examined) found

News CatastrophesEarnings / RatingsInsuranceReinsurance

Global reinsurers’ first-half 2017 results reflect pricing pressure, consolidation expected: Fitch

August 21, 2017 by Canadian Underwriter

Global reinsurers’ first half 2017 results provide further evidence of continuing pressure on pricing and earnings, Fitch Ratings said in a report released on Monday. “Intense competition among global reinsurers and the abundance of capital invested in the sector mean

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Proposed model law could beef up U.S. insurers’ cyber risk management

August 17, 2017 by Canadian Underwriter

New cyber-related obligations being proposed south of the border, if approved, could promote more rigorous cyber risk management practices in the U.S. insurance market, Fitch Ratings suggests. The CyberSecurity Working Group of the National Association of Insurance Commissioners (NAIC) has

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Fitch revises Lloyd’s outlook to negative due to deterioration in underwriting performance

June 30, 2017 by Canadian Underwriter

Fitch Ratings has announced that it has revised Lloyd’s of London’s outlook to negative from stable as result of “deterioration in underwriting performance, coupled with increasing exposure to catastrophe risk in the context of continuing pressure on both risk-adjusted premium

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Strongest world economic growth expected since 2010: Fitch

June 19, 2017 by Canadian Underwriter

The recovery in global economic growth is strengthening and is expected to pick up to 2.9% this year and peak at 3.1% in 2018, the highest rate since 2010, Fitch Ratings said on Monday in its latest Global Economic Outlook

News Earnings / RatingsInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Soft pricing in global reinsurance market to continue for at least the rest of 2017: Fitch

May 16, 2017 by Canadian Underwriter

The soft pricing in the global reinsurance market will continue for at least the rest of 2017, ratings firm Fitch Ratings said in a report released Monday. “We expect premium rates to continue declining, due to large volumes of under-deployed

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Global cyber attacks expected to up demand for related insurance, U.S. market could grow 10-fold: Fitch Ratings

May 16, 2017 by Canadian Underwriter

Fitch Ratings expects demand for cyber insurance protection will increase in the wake of the slew of recent ransomware cyber attacks in 150-plus countries, but cautions against aggressive expansion that could prove credit-negative. “Growth in corporate anxiety from cyber-related threats

News InsuranceLegislation / RegulationMarkets / CoveragesMergers and AqcuisitionsTechnology

Global demand for new vehicles to increase 1% to 2% in 2017: Fitch

May 4, 2017 by Canadian Underwriter

Global demand for new vehicles will increase 1% to 2% in 2017, according to Fitch Ratings’ latest U.S. Automotive Handbook, published on Wednesday. The handbook noted that growth in China, Europe and Brazil will more than offset demand declines in

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Driverless cars to “revolutionize” motor insurance as liability shifts towards manufacturers: Fitch

March 8, 2017 by Canadian Underwriter

Widespread adoption of autonomous vehicles will completely transform the motor insurance sector in the long-term as liability shifts towards manufacturers and the traditional risk pool shrinks, Fitch Ratings said in a new report on Wednesday. Simply put, insurers will be

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Canadian non-life insurance market poised for 2017 profit recovery: Fitch

January 25, 2017 by Canadian Underwriter

The Canadian non-life insurance industry is likely to return to an underwriting profit in 2017, according to Fitch Ratings’ new report on the Canadian non-life insurance market. Following a significant improvement in 2015 underwriting performance, the market in aggregate will

News InsuranceMarkets / Coverages

U.S. insurance broker profitability to persist in 2017, be supplemented by organic revenue growth: Fitch

December 2, 2016 by Canadian Underwriter

Fitch Ratings expects insurance broker earnings and revenue south of the border to likely to modestly improve in 2017 compared to the first nine months of 2016. “In 2017, Fitch expects brokers will continue to supplement organic revenue growth through