rating criteria

Rating agency A.M. Best has changed a proposed update to its Best’s Capital Adequacy Ratio (BCAR) that would have seen catastrophe risk become a direct capital requirement and has also reduced the emphasis on catastrophe tail risks in the capital adequacy calculation.

Rating of insurance-linked securities (ILS) transactions are essential if the ILS market wants to further expand its investor base beyond the current specialists who invest in the insurance and reinsurance linked asset class, according to A.M. Best.

Rating agency Moody’s Investors Service has published an updated version of its rating methodology for catastrophe bonds, clarifying the firms approach to monitoring in-force cat bonds and mortality bonds, while making editorial changes to the methodologies text for clarity.

Ratings agency A.M. Best has now released Best’s Insurance-Linked Securities & Structures Methodology (BILSM) after the termination of the public comment period. The publication of the new methodology contains “minor changes,” but that could impact the rating of at least one ILS transaction, says A.M. Best.

Rating agency A.M. Best has published a new draft rating methodology of relevance to the catastrophe bond, insurance-linked securities (ILS), ILS fund and collateralised reinsurance space and is seeking comments from market participants.

Fitch Ratings has published an updated version of its insurance-linked securities (ILS) rating criteria and methodology, with a number of changes to how it handles assessing ILS and catastrophe bonds but none have affected any existing ratings.

The first rating criteria has been published that specifically targets insurance-linked funds, including those investing in catastrophe bonds, ILS and collateralized reinsurance, by rating agency A.M. Best.

Rating agency A.M. Best has published and is seeking comments on a new draft rating criteria which we believe to be the first to specifically target insurance-linked funds, including those investing in catastrophe bonds, ILS and collateralized reinsurance.

Insurance and reinsurance rating agency A.M. Best has now published the final version of its insurance-linked securities (ILS) market focused criteria report titled “Rating Reinsurance/Insurance Transformer Vehicles.”

Ratings agency Fitch Ratings has published a periodic review and update of its methodology for rating insurance-linked securities (ILS) including catastrophe bonds. This new version of the criteria replaces one dated August 2012.