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Best's Journal - January 4, 2021 Edition
In December, we assigned two new outlooks, for commercial property and general liability, both at Negative.
January 04, 2021 - 81 Pages       
Best's Journal - December 1, 2020 Edition
This month, we published reports on financial results for the first nine months of 2020, as well as our annual impairment updates, for both the property/casualty and life/annuity markets; European captives; the non-standard auto market; the growing importance of ESG for both insurers and reinsurers; the professional liability segment; the growth in insurers’ debt issuance; regulatory issues in the Philippines and in Australia; expected losses due to Hurricane Eta; our Japan non-life outlook; and the impact of the Peruvian president’s resignation on the country’s insurance markets.
December 01, 2020 - 118 Pages       
Best's Journal - November 2, 2020 Edition
A paradox of the COVID-19 pandemic has been the economic uncertainty it has caused for the financial markets and the solid performance results that parts of the insurance industry have reported.
November 02, 2020 - 115 Pages       
Best's Journal - October 1, 2020
This month, we reported on the impact of COVID-19 on the US health industry, school liability, P/C reinsurers, Canada’s economy and insurance industry, and business interruption claims in the UK; crop insurance, mutuals, and the surplus lines in the US; first-half results for the US L/A segment, as well as ratings activity for both the P/C and L/H segments; the impact of Hurricane Sally; and private placements in insurers’ investment portfolios. We also discussed the proposed Group Capital Rule in Hong Kong and assigned a Stable outlook for Taiwan’s non-life insurance industry.
October 01, 2020 - 207 Pages       
Best's Journal - September 2, 2020 Edition
Welcome to AM Best’s annual commentary on the global reinsurance industry.
September 02, 2020 - 93 Pages       
Best's Journal - September 1, 2020 Edition
As we went to press, Louisiana was reeling from damage inflicted by Hurricane Laura, which has drawn comparisons with Hurricanes Rita and Harvey.
September 01, 2020 - 92 Pages       
Best's Journal - August 3, 2020 Edition
This month, we updated our outlooks for Chile’s insurance market (Negative) and Germany’s non-life segment (Stable). We also took a look at the Florida property insurance market; cyber insurance; US captives; private passenger auto insurance; the impact of interest rates, particularly on the US life insurers; insurers’ capital raising initiatives in the wake of COVID-19; and the challenges Bahrain’s fragmented insurance market is facing. We also issued our updated net capital charge tables for ACIS and CIRT reinsurance transactions.
August 03, 2020 - 88 Pages       
Best's Journal - July 1, 2020 Edition
In June, hard-hit states such as New York and New Jersey started to flatten the COVID-19 curve after recording extraordinarily high numbers of deaths and confirmed cases.
July 01, 2020 - 143 Pages       
Best's Journal - June 1, 2020 Edition
Our COVID-19-related coverage continues. We changed the outlooks for the Colombia and Panama insurance markets, as well as the Japan life and South Korea non-life segments, to Negative. Stress testing of the rated population shows that insurers are generally well capitalized. US health claims have thus far been manageable owing to delayed elective surgery and routine office visits. Legislation in the works at both Federal and state levels could have disastrous consequences for business cancellation insurance. The pandemic should have a limited impact on the insurance-linked securities market; the impact on mortgage reinsurance is harder to gauge. US insurers continue to cut back on their hedge fund holdings. Bail bond reform in a number of states is facing some backlash. Finally, a projected contraction in GDP growth and a resulting decline in energy demand in Kazakhstan will have profound implications for the country’s insurance markets.
June 01, 2020 - 101 Pages       
Best's Journal - May 1, 2020 Edition
Like everyone else, we’re closely watching developments surrounding COVID-19, particularly with regard to the ensuing economic slowdown and its impact on insurance markets worldwide—given that virtually every aspect of the insurance industry will be affected.
May 01, 2020 - 167 Pages