Subject: Ratings Page 15 / 25
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- February 8 2023
Japan’s hardening markets force cedents to review reinsurance plans: S&P
The consolidated net income of Tokio Marine, MS&AD, and Sompo will decrease year on year in FY 2022.
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- February 7 2023
Scor’s rating downgraded over profitability issues and surprise CEO exit: Moody’s
Moody's expects that it will take time for the senior management to rebuild the group's track record.
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- February 6 2023
ICICI Lombard cuts down underwriting losses: AM Best
The global rating agency has affirmed a financial strength rating of B++ (good) with a stable outlook.
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- February 6 2023
AM Best downgrades Fubon Insurance’s credit rating as Covid losses mount
The Taiwan P&C carrier's rating has been changed to “A” (excellent) from “A+” and is under review with negative implications.
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- February 6 2023
AM Best hands Bangkok Insurance B++ rating, withdraws after request
The Thai insurer has requested to no longer participate in AM Best’s rating process.
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- January 27 2023
S&P lowers Toa Re’s rating to A after large Covid and cat claims
The Japanese reinsurer made a loss in the first half of the current fiscal year and its combined ratio has exceeded 100% for four consecutive years.
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- January 25 2023
Fitch downgrades Sri Lankan Co-operative Insurance
CICPL's investment and liquidity risks have increased.
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- January 20 2023
Vietnam’s PTI capital adequacy weak: AM Best
The firm suffered from underwriting losses associated with Covid-19 insurance policies.
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- January 17 2023
Sinosure insured US$900bn worth of trade in 2022
The trade-credit insurer saw its SME business grow 15.7% year-on-year covering US$227m in business.
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- January 16 2023
S&P upgrades Lloyd’s rating on sound solvency, better performance
S&P expects 95% COR for 2022, taking into account the half-year COR of 91.4% and reserving of US$4bn for the war in Ukraine and Hurricane Ian.
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- January 16 2023
Taiwan’s South China Insurance sees COR improve to 95.2%: AM Best
The company is exposed to a low and controlled level of claims arising from pandemic-related insurance products.
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- January 12 2023
Reinsurers’ underwriting margins to grow by 4%: Fitch
Property and specialty enter hard market with up to 200% increase in premium rates.
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- January 9 2023
Malaysian Re’s India, MENA performance help mitigate 2021 domestic flood hit
AM Best has affirmed the Asean reinsurer's rating of A- (Excellent) with a stable outlook.
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- January 9 2023
Hong Leong Insurance to improve underwriting to pre-Covid levels: AM Best
The Hong Kong insurer's combined ratio is significantly better than the industry average.
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- December 23 2022
Tugu outlook revised to negative over poor underwriting performance: AM Best
The rating action is despite the Indonesian carrier posting a 15% jump in pre-tax profits for the first nine months of 2022.
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- December 23 2022
Vietnam Bao Minh Insurance combined ratio at 97.8%: AM Best
The firm’s claims have been supported by a lower loss ratio in motor, personal accident and health.
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- December 22 2022
Easing of crop cover solvency norms, lower Covid payouts to drive Indian P&C growth
Indian general insurers are likely to see a premium growth of up to 15% in the medium term, said Care Ratings.
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- December 22 2022
Korean P&C carriers to improve profitability: S&P Global
Insurers have limited catastrophe exposure, and this comes with effective reinsurance protection.
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- December 19 2022
Qianhai Re on track to sustained profitability, capital efficiency: AM Best
The rating agency affirmed the reinsurer’s financial strength rating of A- (excellent) with a stable outlook.
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- December 19 2022
Fubon Vietnam underwriting performance improved despite cat losses from foreign inward business
AM Best has affirmed the B++ rating for the general insurance arm of the Taiwanese financial services group.
