Latest news with #MarketSegmentReport
Yahoo
3 days ago
- Business
- Yahoo
Best's Market Segment Report: AM Best Maintains Stable Outlook on South Korea's Non-Life Insurance Market
HONG KONG, June 04, 2025--(BUSINESS WIRE)--AM Best has maintained its stable outlook on South Korea's non-life insurance segment, noting a continued refinement of the country's domestic solvency standards that have helped strengthen insurers' capital management. Additional factors include moderate growth in the long-term and general insurance segments, and efforts to improve profitability in the former as well as in investment strategies. However, AM Best notes an offsetting factor of slow growth prospects and weakened underwriting profitability in South Korea's auto insurance segment. According to the Best's Market Segment Report, "Market Segment Outlook: South Korea Non-Life Insurance," the country's non-life insurance industry is facing capital pressure with increasing insurance liabilities, following the Financial Supervisory Service's (FSS) push for more realistic actuarial assumptions and a phased plan to cut discount rates until 2027, which are intended to improve credibility and comparability of insurers' financials. "These ongoing regulatory changes, coupled with a decreasing trend in domestic interest rates, are expected to pose a considerable burden on insurers' solvency, especially those with relatively weaker capital positions," said Seokjae Lee, senior financial analyst, AM Best. "However, AM Best expects these changes will promote economic value-based capital management for insurers to maintain sound capital adequacy across the industry." Over the next 12 months, AM Best expects the industry to experience moderate growth with heightened emphasis on profitability management of long-term insurance following a few years of intensified market competition and with a focus on mitigating increasing solvency pressures. According to the report, the auto insurance segment has experienced a slowdown in its premium growth in recent years, owing to sluggish vehicle registrations and cumulative premium rate cuts to support the consumer economy. A notable trend is a high and increasing market concentration among large insurers. "With the fast-growing online auto insurance market, large insurers are more likely to maintain premium growth as they benefit from factors such as economies of scale, strong marketing capability and digital infrastructure," said Chanyoung Lee, director, AM Best. To access the full copy of this market segment 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 Seokjae LeeSenior Financial Analyst +852 2827 3407 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Chanyoung Lee Director, Analytics +852 2827 3404 Cynthia Ang Senior Industry Research Analyst +65 6303 5026
Yahoo
28-05-2025
- Business
- Yahoo
Best's Market Segment Report: AM Best Maintains Negative Outlook on Italy's Life Insurance Segment
AMSTERDAM, May 28, 2025--(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 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 Andrea Porta Financial Analyst +31 20 808 1700 Jose Berenguer Associate Director, Analytics +31 20 808 Richard Banks Director, Industry Research – EMEA +44 20 7397 0322 Edem KuenyehiaDirector, Market Development & Communications+44 20 7397 0280
Yahoo
28-05-2025
- Business
- Yahoo
Best's Market Segment Report: AM Best Maintains Negative Outlook on Italy's Life Insurance Segment
AMSTERDAM, May 28, 2025--(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 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 Andrea Porta Financial Analyst +31 20 808 1700 Jose Berenguer Associate Director, Analytics +31 20 808 Richard Banks Director, Industry Research – EMEA +44 20 7397 0322 Edem KuenyehiaDirector, Market Development & Communications+44 20 7397 0280 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
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
19-05-2025
- Business
- Business Wire
Best's Market Segment Report: Changing Environment Brings New Risks to D&O Insurers
BUSINESS WIRE)--Despite declining premium volume and challenging underwriting conditions, insurers providing U.S. directors and officers (D&O) liability coverage had their most favorable loss experience in more than a decade in 2024, according to a new AM Best report. Significant reserve takedowns from prior accident years during the hard market's peak also led to the best quarterly results in the past seven years and bolstered year-end 2024 results. However, according to the Best's Market Segment Report, 'Changing Environment Brings New Risks to D&O Insurers,' challenges remain from open claims dating to the soft-market years of 2016-2019, which developed adversely in 2024 and could persist. The report also notes that D&O liability underwriters will be challenged by a wide array of risk associated with artificial intelligence. 'Market uncertainty, evolving technology, corporate disclosure related issues, and potential macroeconomic strife stemming from new tariffs are among the factors affecting D&O segment,' said David Blades, associate director, Industry Research and Analytics, AM Best. 'Corporate executives continue to face a variety of challenges in managing complex risks amid rising uncertainty.' The report includes an analysis of data available from the monoline D&O liability supplement in the annual statement filings of U.S. companies. Based on that review, the direct loss ratio monoline D&O liability has improved by more than 10 percentage points from the high over the last 11 years (2014-2024) of 62.4 in 2017 and 2018. D&O underwriters are still benefiting from the significant rate and price increases and the more conservative underwriting and policy terms and conditions that drove a dramatic shift in the market's dynamics in 2020 and 2021. As 2025 approaches the halfway point, many market participants have expressed concern that recent pricing reductions that led to D&O liability direct premiums written (DPW) declining in each of the past three calendar years will not be sustainable. According to the report, the primary reason is the multitude of complex risks corporate executives are currently managing, which also include macroeconomic uncertainty; the evolving legal landscape; and the changing nature of cyber risks, in addition to others. While D&O liability premium for the entire industry was down by 6.0% year over year in 2024, much of that was from the first quarter. Total D&O premium for first-quarter 2024 of $2.2 billion was the lowest quarterly total in four years, with DPW increasing in each following quarter during the year. The increased premiums in the fourth quarter, coupled with significant reserve takedowns, led to a significant drop in the loss ratio. 'The loss ratio for the fourth quarter of 2024 was the lowest quarterly loss ratio of the past seven years by a wide margin, seven points better than for any other quarter,' said Christopher Graham, senior industry research analyst, AM Best. 'At the same time, continued profitable results could lead to sustained pressure on pricing if insurers have little reason to raise rates and risk losing profitable business.' To access the full copy of this report, please visit A video discussion about this report with Graham is available at
