Latest news with #MarketSegmentOutlook
Business Wire
28-05-2025
- Business
- Business Wire
Best's Market Segment Report: AM Best Maintains Negative Outlook on Italy's Life Insurance Segment
AMSTERDAM--(BUSINESS WIRE)-- AM Best is maintaining its negative outlook on Italy's life insurance segment. In its new Best's Market Segment Report, 'Market Segment Outlook: Italy Life Insurance', AM Best notes that while it expects premium growth momentum to continue in 2025, insurers in Italy are still facing elevated levels of surrenders which failed to scale down as hoped. These surrenders continue to exert pressure on net flows, especially with regards to capital-light products. The report also states that the Italian life insurance segment continues to exhibit an elevated level of concentration, by players and distribution channels. With roughly half of total life premiums written by three companies and distributed through bancassurance channels, these characteristics act as barriers to entry for new companies and prevent smaller participants from gaining market share. To access a complimentary copy of this special report, please visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
Yahoo
23-05-2025
- Business
- Yahoo
Best's Market Segment Report: AM Best Maintains Stable Outlook on Spain's Life Insurance Segment
AMSTERDAM, May 23, 2025--(BUSINESS WIRE)--AM Best has maintained its stable outlook on Spain's life insurance segment. In its new Best's Market Segment Report, "Market Segment Outlook: Spain Life Insurance", AM Best highlights that market participants have successfully shifted product focus to the changing interest rate environment and expects technical provisions to remain at solid levels in 2025, reflecting the trend observed last year. AM Best expects demand for traditional insurance products to remain robust in light of the healthy, though declining, interest rate environment, and states that companies should be able to continue offering attractive products while maintaining profit margins. However, AM Best will continue to monitor the interest rate path and its effects on guaranteed rate products, as well as its effects on product offerings. To access a complimentary copy of this special report, please visit AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Juan Villaescusa Financial Analyst +31 20 808 1162 Richard Banks Director, Industry Research – EMEA +44 20 7397 0322 Jose Berenguer Associate Director, Analytics +31 20 808 2276 Edem KuenyehiaDirector, Market Development & Communications+44 20 7397 0280 Eli Sanchez Director, Analytics +31 20 808 3190 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
23-05-2025
- Business
- Business Wire
Best's Market Segment Report: AM Best Maintains Stable Outlook on Spain's Life Insurance Segment
AMSTERDAM--(BUSINESS WIRE)-- AM Best has maintained its stable outlook on Spain's life insurance segment. In its new Best's Market Segment Report, 'Market Segment Outlook: Spain Life Insurance', AM Best highlights that market participants have successfully shifted product focus to the changing interest rate environment and expects technical provisions to remain at solid levels in 2025, reflecting the trend observed last year. AM Best expects demand for traditional insurance products to remain robust in light of the healthy, though declining, interest rate environment, and states that companies should be able to continue offering attractive products while maintaining profit margins. However, AM Best will continue to monitor the interest rate path and its effects on guaranteed rate products, as well as its effects on product offerings. To access a complimentary copy of this special report, please visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
Business Wire
14-05-2025
- Business
- Business Wire
Best's Market Segment Report: AM Best Maintains Stable Outlook on Japan Non-Life Insurance Segment
HONG KONG--(BUSINESS WIRE)-- AM Best is maintaining a stable outlook on Japan's non-life insurance industry, citing improved profitability in the fire insurance line and heightened regulatory oversight, which is driving industry reforms. The Best's Market Segment Report, 'Market Segment Outlook: Japan Non-Life Insurance', notes that Japan's Financial Services Agency has increased scrutiny of non-life insurers in the past 18 months, outlining stricter governance requirements for insurers, including stronger oversight of agency networks and eliminating improper incentives provided by insurers to distributors. While the new regulatory measures may lead to higher compliance costs for insurers in the short term, these shifts should increase transparency and foster fair market competition, as well as help insurers improve acquisition cost efficiency over the long term. The non-life industry also will see the implementation of the Insurance Capital Standard in fiscal-year 2025, whereby assets and liabilities will be measured at market value. While the new solvency regime should have a greater impact on life insurers, most Japanese non-life insurers have been preparing for this transition by augmenting their risk management frameworks over the past few years. 'AM Best expects that the regulatory shift will lead to increased transparency and comparability for Japanese non-life insurers with global counterparts under similarly advanced regulatory frameworks, equipping them to navigate economic uncertainties more effectively and enrich global competitiveness over the long term,' said Chanyoung Lee, director, analytics, AM Best. According to the report, Japan's non-life insurers have implemented various measures to combat significant underwriting volatility in their homeowners-related fire insurance products, given the increase in the occurrence and severity of natural catastrophes. The measures are aimed at ensuring that policies are more accurately priced according to actual risk exposure and reduce the likelihood of underwriting losses over time. Japan's interest rate environment also has become more favourable for insurers, and the paradigm shift, transitioning from a focus on deflation avoidance to inflation control, has benefited non-life insurers with substantial bond portfolios. This trend is expected to persist over the next 12 months and contribute positively to non-life insurers' investment income. Conversely, the report notes that Japan's automobile insurance segment continues to face profitability challenges. 'A key issue is the persistent increase in repair costs, driven by higher prices for spare parts and rising labour costs,' said Charles Chiang, senior financial analyst, AM Best. 'Our analysis shows that the loss ratios of major non-life insurers have been trending upward in recent quarters.' To access the full copy of this report, please visit
Yahoo
08-05-2025
- Business
- Yahoo
Best's Market Segment Report: AM Best Maintains Stable Outlook on Chile's Insurance Industry
MEXICO CITY, May 08, 2025--(BUSINESS WIRE)--AM Best is maintaining its stable outlook on Chile's insurance industry, citing premium growth, sustained profitability and strengthened regulatory framework. The Best's Market Segment Report, "Market Segment Outlook: Chile Insurance," notes that the country's insurance penetration rate has grown modestly, and while it is higher than most Latin American countries, it remained below 5% as of 2023. However, the insurance industry registered 8.7% real growth in 2023 and was led by the life segment's growth of 15.2%, driven predominantly by annuities and pension insurance. The life and property/casualty market segments also have remained profitable despite unfavorable technical results. "Despite the favorable bottom-line results, underwriting results have stayed on the negative side, driven by higher costs in the different segments and an increase in claims in the life segment. The positive net income reflects higher investment income, which benefited from the high rates in 2023," said Inger Rodriguez, financial analyst, AM Best. The report states that Chile is in the process of strengthening its insurance regulatory framework, and the regulator has defined as part of its strategic objectives, convergence toward international financial reporting standards; the implementation of IFRS 17 aims for greater uniformity in the accounting practices and reporting of financial information of insurance entities. Overall, AM Best expects Chile's insurance market to withstand current challenges, aided in part by an expanding capital base, and will continue monitoring developments that could affect the performance of domestic insurance companies. To access the full copy of this report, please visit AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Inger Rodriguez Financial Analyst +52 55 1102 2720, ext. 108 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318
