Latest news with #MarketSegmentReport
Business Wire
a day ago
- Business
- Business Wire
Best's Market Segment Report: AM Best Maintains Stable Outlook on Global Cyber Insurance Segment
BUSINESS WIRE)-- AM Best is maintaining its stable outlook on the global cyber insurance segment, as demand for coverage remains strong and is anticipated to persist. The Best's Market Segment Report, 'Market Segment Outlook: Global Cyber Insurance,' states that although cyber insurance market conditions have softened since 2023, a major opportunity for market expansion still exists as awareness and adoption of cyber insurance continue to rise, particularly among small and medium-sized enterprises. Profitability is also expected to continue over the intermediate term despite ongoing competitive pressures. 'Fundamentally, the market's expansion is underpinned by increasing awareness of cyber risk and the need for risk transfer solutions to protect against the growing threat of cyber crime,' said Robert Gabriel, senior financial analyst, AM Best. 'Heightened awareness of cyber threats also has motivated insureds to strengthen their cyber hygiene, leading to more robust defenses and swifter incident responses, which in turn has helped to reduce potential losses.' Other factors underpinning the stable outlook include: Continued capital support and expansion fueled by reinsurers and, to some extent, alternative capital providers. Artificial intelligence-driven risk selection and underwriting, which builds in efficiencies. Regulatory and compliance requirements that are driving higher cyber insurance adoption. The report notes that systemic risks from large-scale cyber incidents remain a concern due to the interconnectedness of digital systems and the potential for cascading losses across industries. The AI-driven proliferation of cyber-attacks also can increase the scale and complexity of attacks. Additionally, the ongoing challenge of ransomware, business email compromise and funds transfer fraud continues to escalate. To access the full copy of this market segment report, please visit AM Best will host a briefing on July 23, 2025, at 11:00 a.m. EDT to discuss the state of the cyber insurance market, including evolving threats in the cyber space and how companies and insurers are working together to reduce losses. To register and learn more about the briefing, go to Additionally, the Best's Market Segment Report, 'US Cyber: Pricing Cuts Bring First Ever Reduction in Direct Premiums Written,' is available at
Business Wire
6 days ago
- Business
- Business Wire
Best's Market Segment Report: AM Best Maintains Negative Outlook
AMSTERDAM--(BUSINESS WIRE)-- AM Best has maintained its negative outlook on France's non-life insurance segment. In its new Best's Market Segment Report, 'Market Segment Outlook: France Non-Life Insurance', AM Best states that non-life insurance growth prospects are expected to remain limited over the next months, tied to modest GDP growth expectations. The report also notes that the increase in frequency and severity of natural catastrophe events is expected to continue to put pressure on France's non-life insurers, despite the existence of the state-backed natural catastrophe scheme, Caisse Centrale de Réassurance (CCR). While a surcharge to existing premiums has been added since the start of 2025 to release some of the short-term pressure on CCR, AM Best believes that it will not be sufficient over the medium term amid changing climate trends and that further measures will have to be discussed to ensure the scheme's sustainability. 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
04-06-2025
- 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
