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In 2022, news that 27 of Florida’s property insurance companies were potentially facing a financial rating downgrade from Demotech, the state’s primary financial rating firm, created panic in ...
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In late July 2022, financial strength rating company Demotech announced it was considering downgrading the financial strength ratings of 27 property insurance companies. The situation is complex.
Company Country Total assets (US$ Billion) 1 Allianz Germany: 1,247.2 2 Berkshire Hathaway United States: 958.8 3 Prudential Financial United States: 937.6 4 Ping An Insurance China: 937.0 5 China Life Insurance China: 900.5 6 Axa France: 846.3 7 Legal & General United Kingdom: 786.1 8 MetLife United States: 759.7 9 Nippon Life Japan: 725.0 10
From 2013 to 2023, U.S. insurance companies paid $655.7 billion in natural disaster claims with the $295.8 billion paid from 2020 to 2022 setting a record for a three-year period, [9] and after only the Philippines, the United States lost the largest share of its gross domestic product in 2022 of any country due to natural disasters while ...
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