2009 Special Report: U.K. & Europe Flood – Catastrophe Review. European Insurers Hope to Keep Flood Exposures at Bay: With property exposed to flooding increasing in terms of both the number of properties affected and their economic value, A.M. Best believes that, while there is scope for wider insurance coverage of flood losses, adaptation may be necessary to manage flooding risk in the short term.
Date: 4/27/2009 Source: Special Reports (PDF) Pages: 12
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2009 Special Report: European Solvency II – Issue Review. Financial Turmoil Poses Real-Life Stress Test for Solvency II Directive: In spite of the implied shortcomings of the Basel II standard, European insurance sector regulators and industry leaders are determined to progress with the Solvency II project and transition from Solvency I toward a risk-sensitive solvency regime.
Date: 1/26/2009 Source: Special Reports (PDF) Pages: 12
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2008 Special Report: U.K. Non-Life – Review & Preview. Economic Climate May Ultimately Trigger a Turn in the Cycle: A.M. Best expects the non-life insurance market in the United Kingdom to return a good combined ratio in 2008, subject to the claims experience of the remainder of the year. The U.K. market has remained competitive, despite some evidence of rate increases in personal lines.
Date: 9/29/2008 Source: Special Reports (PDF) Pages: 8
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2008 Special Report: U.K. Life – Review & Preview. Capitalisation Under Pressure as Asset Values Decline: The life insurance industry in the United Kingdom is facing a tough year in 2008. While the industry has been largely free of subprime exposures, the decline in equity markets combined with the write-downs on bonds means that many companies face the possibility of reporting pretax losses and reduced capitalization.
Date: 9/29/2008 Source: Special Reports (PDF) Pages: 8
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2008 Special Report: Global Reinsurance – Market Review.Though Industry Balance Sheets Are Healthy, Challenges Abound: The global reinsurance sector should remain profitable in 2008, though A.M. Best believes results will reflect more accurately market trends as margins are expected to moderate.
Date: 9/8/2008 Source: Special Reports (PDF) Pages: 24
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2008 Special Report: U.S. Surplus Lines – 2007 Market Review. Surplus Lines Results Remain Strong, As Competitors Grab at Market Share: While surplus lines insurers outperformed the property/casualty industry in underwriting and operating performance in 2007, the softening market and more aggressive competition portend deterioration in profitability as premium levels decline.
Date: 8/25/2008 Source: Special Reports (PDF) Pages: 44
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2008 Special Report: Bermuda – 2007 Financial Review. Bermuda Insurers Carry Strength into a Softening Market: Bermuda-based property/casualty insurers bounced back from two years of unprecedented hurricane losses to post strong results in 2006 and 2007.
Date: 4/21/2008 Source: Special Reports (PDF) Pages: 6
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2008 Special Report: U.K. Protection & Indemnity Clubs – 2007/2008 Market Review. P&I Clubs Watch Claims Trends, Hone Underwriting, Boost Capital: Protection and indemnity clubs face a challenging underwriting environment: the International Group of P&I Clubs collectively has not made a technical profit in any financial year since 1999.
Date: 4/14/2008 Source: Special Reports (PDF) Pages: 7
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2008 Special Report: European Solvency II – Issue Review. Solvency II May Raise Most EU Insurers’ Regulatory Capital Requirements: The European Commission’s Solvency II Directive is expected to substantially increase regulatory capital requirements for most European issuers, although no extra capital is likely to be required for the market as a whole. This view is based on A.M. Best’s analysis of consolidated results from the third impact study conducted by European insurance regulators.
Date: 4/7/2008 Source: Special Reports (PDF) Pages: 8
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2008 Special Report: Earthquake – Catastrophe Review. Awareness Grows That Moderate Quakes Could Devastate Europe: This study provides historical perspective on European earthquakes and the insurance industry, as well as an examination of the ability of the insurance industry and the public to absorb losses from a “major” or “great” earthquake.
Date: 1/7/2008 Source: Special Reports (PDF) Pages: 24
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2007 Special Report: Lloyd's – 2006 Market Review: In A.M. Best’s opinion, Lloyd’s has a strong competitive position in the global insurance market and benefits from its reputation for innovative and flexible underwriting. Its competitive strength derives from its marketplace structure that fosters the development of strong specialist underwriting skills.
Date: 11/1/2007 Source: Special Reports (PDF) Pages: 24
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2007 Special Report: Global Reinsurance–2006 Market Review. Reinsurers Turn Cautious as Climate Shifts: While 2007 should be another good year for the global reinsurance sector, A.M. Best believes the outcome depends on how well reinsurers manage catastrophic exposures relative to capital at risk.
Date: 8/13/2007 Source: Special Reports (PDF) Pages: 32
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2007 Special Report: Bermuda – 12-Month Financial Review. Changing Tide of 2006 Storm Activity Showers Benefits on Bermuda’s Insurers: After Bermuda's insurers braced for another chaotic 2006 hurricane season, the exact opposite occurred, as insured losses relating to catastrophes were only a fraction of 2005 losses. Marking the two extremes, the Bermuda market reported a very healthy 2006 combined ratio of 83.7, compared with a catastrophic combined ratio of 119.4 for 2005, according to a new special report from A.M Best Co.
Date: 5/28/2007 Source: Special Reports (PDF) Pages: 4
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2007 Special Report: U.S. Hurricane Catastrophe Review. One Blow Away From $6 Gas : A well-aimed hurricane in the Gulf of Mexico could couple staggering insured catastrophe losses with severe economic disruptions as the storm tears through the dense, onshore and offshore infrastructure of the region’s all-important petroleum industry. Hurricanes Katrina and Rita gave a taste of the possibilities in 2005.
Date: 5/21/2007 Source: Special Reports (PDF) Pages: 16
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2007 Special Report: European Life and Non-Life Insurance. As Market Conditions Deteriorate, Some Segments See Profitable Growth: Life insurers have experienced strong growth over the past few years, a trend that continued in 2006. The strong demand for unit-linked products has been fuelled by good investment conditions and the companies’ focus on selling capital-efficient products.
Date: 5/7/2007 Source: Special Reports (PDF) Pages: 20
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2007 Special Report: U.K. Life Insurance Annual Market Review. U.K. Life Market: Every Silver Lining Has a Cloud: 2006 appears to have been one of the best years for U.K. life insurers, with new business premiums growing by an impressive 30%.
Date: 5/7/2007 Source: Special Reports (PDF) Pages: 8
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2007 Special Report: U.K. Non-Life Insurance Annual Market Review. Strong Capital to be Maintained, Despite Intensifying Competition: Intensifying competition is anticipated across all business lines, particularly in the small-to-medium enterprise sector. Further rate reductions anticipated, but underwriting performance is expected to be less cyclical than in the past.
Date: 5/7/2007 Source: Special Reports (PDF) Pages: 8
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Growth Slows for Rated Non-U.S. Captives: A.M. Best Co. possesses a substantial amount of data and information on captives and assigns interactive ratings to a number of these, most of which are very well capitalized.
Date: 11/13/2006 Source: Special Reports (PDF) Pages: 4
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Lloyd's Mix of Primary Business, Reinsurance Shifts in Response to Hurricane Losses: In A.M. Best's opinion, Lloyd's competitive strength derives from its marketplace structure, which fosters the development of strong specialist underwriting skills. Lloyd's Franchise Board has provided a more commercial focus to management of the market and is responsible for setting minimum standards to help safeguard its future profitability.
Date: 10/2/2006 Source: Special Reports (PDF) Pages: 24
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The Trough Is Coming for the U.K. Non-Life Market: There has been greater acceleration in growth of net premiums written for the top 50 companies than for the top 10 in the United Kingdom. While the top 50 companies are taking greater market share, it is not at the expense of underwriting quality.
Date: 6/5/2006 Source: Special Reports (PDF) Pages: 8
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