Ratings agencies
Lloyd's market on cusp of 'AA' rating
The Lloyd's market is on the cusp of achieving a potentially “game changing” ‘AA’ credit rating, according to research firm Litmus Analysis.
Proposals to block broker deals with unrated insurers snubbed by the market
Reid told onus is on brokers to ensure passporting firms are 'financially sound'
Alternative capital is major talking point ahead of Monte-Carlo
The impact of alternative capital on reinsurance pricing is set to be a major talking point at the Monte Carlo Ren-dez-vous according to Moody’s.
Insurers look to diversify by entering private loans market
Low rates and new regulations are driving European insurers to diversify their asset allocation by investing in more illiquid asset classes, notably private loans, Moody's said in report published today.
S&P downgrades Italian insurer Generali
European insurer Generali has been downgraded from A to A- by Standard and Poor's.
Fitch raises Lloyd’s outlook to positive
Lloyd’s has seen its Fitch ratings affirmed with an improved outlook, climbing to positive from stable after the rating agency noted reduced earnings volatility.
Moody’s: Solvency II volatility may deter investors
Potential investors in the insurance industry may be turned off by expected volatility in European insurer’s solvency ratios according to rating agency Moody’s.
Co-op rated “junk” by Moody’s
Moody’s has downgraded the Co-operative Bank’s debt rating to “junk” status, warning the bank may need “external support”.
S&P affirms A- rating for Ecclesiastical
Ecclesiastical Insurance Office has had its A- rating affirmed by Standard and Poor’s. The insurer also maintained its stable outlook.
Am Best affirms Swiss Re rating
Swiss Re's A+ financial strength rating and issuer credit ratings of ‘aa‘ have been affirmed by AM Best.
Axa $850m subordinated notes assigned BBB by S&P
Standard & Poor's has assigned its BBB long-term issue rating to the $850m perpetual subordinated notes issued by French holding company Axa (A-/Stable/A-2).
European Parliament clamps down on rating agencies
Rating agencies are to have their shareholdings in rated firms capped to reduce conflict of interest under new rules approved by the European Parliament.
S&P affirms Groupama SA rating following UK sale
Standard & Poor's has affirmed its BB- long-term counterparty credit and insurer financial strength ratings on French insurer Groupama SA and its guaranteed subsidiaries.
S&P predicts Solvency II will be delayed until 2016
Standard & Poor's has warned that Solvency II could be delayed for a further two years as the relevant parties have failed to agree on the European directive.
UK non-life market needs rates focus, says AM Best
Weak economic activity, stubbornly soft rates and European financial perils are generating serious concerns about the UK non-life market, AM Best has said.
Groupama parent downgrade "irrelevant" to UK insurer
Groupama Insurances's chief executive has said that a revision of the security rating of its France-based parent Groupama Group has "no relevance" on the UK insurance operation.
Standard & Poor's upgrades Groupama Insurances to BB
Ratings agency Standard & Poor's has upgraded Groupama Insurances to a financial strength of BB on credit watch with positive implications, and expects to boost the rating to BBB in Q4.
FSC in bid to wind up Lemma in Gibraltar
The Gibraltar Financial Services Commission has been granted leave to apply for the winding up for Gibraltar-based Lemma Europe, according to a report in The Gibraltar Chronicle.
Reinsurers take stock of Asia-Pacific risks
Reinsurers are bracing themselves for the next catastrophe in the Asia-Pacific region following the spate of catastrophes over the last two years, according to Fitch Ratings.
Brokers will use downgraded insurers, but only if clients make the request
Brokers have admitted they will continue to work with downgraded insurers at clients’ requests, despite rating agency Fitch conceding there is no end in sight to potential downgrades linked to the Eurozone crisis.
Moss exit and senior management shake-up keep Aviva rating under review
Aviva's financial strength rating of A (excellent) has been reviewed and maintained by AM Best Europe while remaining under review with negative implications.
Mapfre Re downgraded amid fears over future of Spanish economy
Mapfre Group’s reinsurance arm’s issuer credit rating has been downgraded by AM Best Europe following an assessment of the consolidated group’s financial strength and ongoing risks in the Eurozone.
World Cup and Olympic fever fuels Brazil's general insurance growth
The 2014 FIFA World Cup and 2016 Olympic Games are proving to be catalysts for the growth prospects of Brazil's general insurance sector.
Direct Line Group set to complete £500m planned subordinated debt issuance
Direct Line Insurance Group has announced it expects to complete a £500m issue of fixed/floating rate guaranteed subordinated notes due in 2042, and intends to seek a listing of the securities on the London Stock Exchange.