General Insurance Article - S&P says floods unlikely to reduce insurer ratings


 Standard & Poor's Ratings Services says that it does not expect the ongoing flooding in southern England to lead to negative rating actions on UK non-life insurers. Estimates of industrywide retained loss have ranged from £500m to £1,200m.

 The high end of these estimates would equate to a 4% increase in the combined (loss and expense) ratio. S&P would view such a loss as an earnings event rather than a capital event. Even if political pressure were to hinder insurers from recovering the full extent of their flood losses through raising premiums, we would not expect it to change our assessment of the UK non-life sector's industry and country risk. 

Back to Index


Similar News to this Story

Call for simplification of EU cybersecurity regulation
Insurance Europe has welcomed the European Commission’s review of the Cybersecurity Act (CSA) and the forthcoming digital omnibus initiative, supporti
7 California wildfire lessons learnt for European insurers
The devastating January 2025 wildfires in Los Angeles, which destroyed over 16 000 structures and caused insured losses of approximately USD 40 billio
Do not be left high and dry this summer
Aviva is urging caution as data reveals a correlation between warm weather and fire claims. Number of garden fire claims is already significantly high

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.