Indonesia’s non-life insurance market stable despite a bleak macroeconomic picture
SINGAPORE: Indonesia’s non-life insurance market is well-diversified and underpinned by solid capitalisation, supporting a stable outlook assigned to the segment. A new Best’s Market Segment...
AM Best affirms ratings of GEICO on it’s balance sheet strength
OLDWICK: AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) for the members of Government Employees Group (GEICO) based on its strong...
Nigeria’s insurance market offers significant potential despite headwinds
LONDON: Nigeria’s substantial oil and gas reserves, its young and growing population and its position as Africa’s largest economy continue to point to significant development...
U.S. property and casualty insurers manage challenging market dynamics amidst Covid19
HOUSTON: Credit rating activity for the U.S. property and casualty insurance industry in the first half of 2020 was mixed, with upgrades modestly outnumbering downgrades,...
U.S. life and health insurance sector rating upgrades outnumber downgrades in first-half of 2020
HOUSTON: The U.S. life and health insurance industry saw more credit rating upgrades than downgrades in first-half 2020, driven primarily by improved levels of risk-adjusted...
COVID-19 highlights weaknesses in insurers’ enterprise risk management
LONDON: Reinsurance, and to some extent, insurance, has thrived on globalisation with limited barriers to entry. With this has come an increasing interconnectivity of risks...
Fitch takes rating action on four Indian NBFIs following pandemic
SINGAPORE: Fitch Ratings has taken rating action on the Long-Term Issuer Default Ratings (IDR) of four Indian non-bank financial institutions (NBFI) in light of the...
Outlook for Catholic Order of Foresters (COF) revised to negative from stable
LONDON: AM Best has revised the outlooks to negative from stable for Catholic Order of Foresters (COF) due to declining trend of operating performance, where...
Fitch affirms Peru LNG at BB-; assigns negative outlook
CHICAGO: Fitch Ratings has affirmed Peru LNG S.R.L’s (PLNG) Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) at ‘BB-‘. The Rating Watch Negative has...
COVID-19 taking its toll on Canada’s economy and insurance industry
OLDWICK: Canada’s property/casualty insurance industry thus far has fared better than their life counterparts amid the volatile economic and market dynamics created by the COVID-19...
Moody’s affirms Frasers Centrepoint’s Baa2 rating; changes outlook to stable
SINGAPORE: Moody’s Investors Service has affirmed Frasers Centrepoint Trust’s (FCT) Baa2 issuer rating. At the same time, Moody’s has changed the outlook on the rating...
U.S. life insurance and annuity industry’s income declines by 66 percent
NEW YORK: The U.S. life insurance and annuity industry’s net income fell by 66 percent in the first half of 2020, compared with the same...