Lloyd’s Market 2022 Review: Let The Good Times Roll?
S&P Global ratings believes that after recording underwriting profit in 2021, the Lloyd’s market will post strong underwriting performance between 2022 and 2024. They believe that a better-rated book should make the market more resilient against external challenges. Read more.
Fitch upgrades W.R. Berkley’s ratings
Berkley Corporation’s P&C operating subsidiaries upgraded from ‘A+’ to ‘AA-‘ (Very Strong) by Fitch Ratings. Berkley’s senior debt also upgraded from ‘BBB+’ to ‘A-‘. These upgrades reflect improvement in capitalization and debt service, along with consistent and strong financial performance. Fitch believes that in a complex global context, Berkley will be able to remain within rating sensitivities with respect financial performance and capital. Read more.
Moody’s affirms ratings of Aviva, AXA UK, L&G, and M&G
Insurance financial strengths ratings of M&G remain ‘negative’, whilst Aviva, AXA UX and L&G are still ‘stable’. Moody’s said that this move comes regardless of a weakening UK government’s creditworthiness. Read more.
Reinsurance demand continues to rise ahead of Jan renewals, say industry leaders
As demand for protection continues to rise, senior industry leaders discussed on how the insurance and reinsurance industry can work to leverage its strengths. At the 2022 meeting of the reinsurance industry in Baden-Baden, CEOs and Executives shared their insights about the industry. Read more.
UK specialty MGA launches for hard to place risks
Backed by rated securities and with more securities being added to the reinsurance panel, “Specialty MGA UK” provides additional capacity for specialty lines of businesses and hard to place risks across all territories. The team is headed up by Philippe Bara, energy underwriter, and property fac underwriter Mark Palmer. Read more.
