AM Best says European reinsurers’ ratings are stable
Europe's reinsurers have seen their financial strength stabilise after a two year period of downward pressure, according to a report from AM Best. Strong accident year results were maintained through the 1st quarter of 2004 and are expected to persist through the year. Combined with a partial restoration of capital levels, this has helped support the current ratings. Accident year results reflect the ongoing hard market (albeit with property now softening somewhat, along with aviation). Capital has partially recovered due to both equity raising and some recovery in the capital markets.
However, while the absolute levels of European reinsurer financial strength ratings remain healthy, AM Best considers an overall return to the higher ratings of recent years seems unlikely.This
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