14th September 2023 Litmus' mid-year Reinsurance Renewal Roundup highlights diverging outcomes for the big 4 Continued price firming evident across the market year-to-date Diverging outcomes for the big four reinsurers at 1 July An examination of the P&C treaty renewals of the big four European reinsurance groupsRead more →
S&P rated (re)insurers may not be told whether a UCO rating designation indicates a potential upgrade or downgrade until not that long before the UCO resolution rating committee. Effective planning for that means running the model on themselves as early as possible. 31st August 2023 Litmus understandsRead more →
In a single step we expect more than 10% of S&P’s insurance ratings to be placed “under criteria observation” (“UCO”) Why? And what does it mean for rated carriers and rating users? A Litmus Primer Contents Summary of key takeaways Timings & numbers of ratings impacted. WhyRead more →
Litmus’ 5 step guide to how S&P’s new insurance capital model criteria will be implemented. S&P’s prior disclosure on the potential impact on ratings of its proposed capital model criteria changes suggests some rating upgrades and downgrades may occur as a result. Given the potential significance weRead more →
20th March 2023 On Tuesday 14th March S&P issued the following update to the Request for Comment (RfC) process around changes to its insurance capital model. For the background to the RfC’s current status see our recent blog here. “We have completed our review of the substantialRead more →
Wide range of 1/1 premium rate and volume outcomes suggests very different sentiment among the ‘Big Four’ Reported results highlight fundamental differences in risk appetite and actions to optimise current market conditions, which may reflect divergent levels of comfort with the renewing book Litmus Analysis’ Reinsurance Renewal
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S&P’s upcoming second Capital Model RfC: Litmus 5-step guide to how the process will work. UPDATE 22nd February, 2023 Summary S&P’s Request for Comment (“RfC”) process on its capital model is now 14 months old. It created a huge response for the agency and, for some elementsRead more →
S&P’s proposed changes to its insurance capital model: the background, what happens next and how the agency handles rating decisions in the meantime 22nd February 2023 Summary S&P launched a Request for Comment (“RfC”) on its insurance capital model in December 2021 The RfC received a hugeRead more →
The credit profiles of 35 leading reinsurance carriers show significant overall resilience to major reserve shocks, but with some very big individual variances. 23 May 2022 1. Executive summary Litmus’ research suggests a significant overall resilience to major reserve stresses across 351 leading non-life reinsurance carriers. However, theRead more →
S&P’s surprise second capital model RfC extension: how and when will the final outcome be deployed? April 6th, 2022 Content summary S&P’s1 second RfC extension (to April 29th), and the sheer volume of questions S&P appears to be receiving, mean we are pushing our best guess timelineRead more →