Negative ratings actions and financial challenges are forcing carriers to explore reinsurance options offering needed capital, according to a report released last month by Gallagher Re’s Strategic and Financial Analytics team.
Downgrades of U.S. property/casualty (re)insurers jumped significantly in the first eight months of 2023, compared to the calendar year 2022, continuing an upward trend from 2021, according to Gallagher Re’s analysis of ratings actions by AM Best.
Negative rating actions (including outlook changes) outnumbere