KBRA Insurance Ratings
A transparent, forward-looking, and holistic rating approach designed to deliver best-in-class issuer service and an accurate, independent assessment of risk for policyholders, market participants, and other stakeholders.
60+
Property/Casualty Re/Insurers
40+
Life/Annuity/Health Re/Insurers
30+
Debt Ratings, Totaling Over $5.5 BN
1
Composite Rating Lloyd’s of London
A Better Rating Experience For Issuers
Trusted, tailored ratings through transparency, expertise, and a client-focused approach.
A Rating Approach Built Around Your Business
We focus on fundamentals and your company’s specific risk profile, without forcing outcomes through a one-size-fits-all model.
No one-size-fits-all proprietary capital model, which supports deeper, more holistic financial analysis
Company-specific considerations are central to the rating outcome
Transparent, interactive process with clear discussion of key drivers
Forward-looking opinions grounded in strategy, risk management, and operating outlook
Strong insight into insurer investment portfolios and asset risks
Issuer-First Process, Senior-Level Access, Responsive Service
We run an efficient and highly interactive rating process.
Management meetings at your location or virtual, based on your preference
Clear timelines, clear requests, clear communication
A service mindset that is committed, accountable, and easy to work with
A Rating The Market Can Use With Confidence
Credible with investors, clear in its rational and built to protect policy holders and support real capital markets decisions.
Trusted by Regulators, Government Agencies, Investors, and the Capital Markets
KBRA ratings are used by market participants who want an additional, independent perspective on risk.
KBRA ratings are respected and relied upon by investors and market participants
Users benefit from more than one viewpoint on credit and financial strength
Cross-sector perspective informs insurer analysis, including assets, liability structure, and macro and market linkages
Clear, Decision-Useful Reporting Without The Template Feel
Our reports are built to explain what matters and why, so stakeholders can understand the drivers behind the rating.
Comprehensive rating reports tailored to the credit, not template driven
Transparent discussion of key strengths, constraints, and sensitivities
Complimentary access to published insurance research and reports on kbra.com
KBRA’s Insurance History
Research
Private Credit and Life Insurer Solvency: Separating Risk From Rhetoric
KBRA analyzes recent academic and media commentary regarding the growth of private credit, private equity (PE) ownership of life insurers, the use of private letter ratings (PLR), and the role of state guaranty funds in protecting policyholders.
Good News/Bad News: FEMA Review Council’s Recommendations Are a Mixed Bag
The President's Federal Emergency Management Agency (FEMA) Review Council has issued recommendations to reshape federal disaster response by shifting more responsibility to state, local, tribal, and territorial governments. This commentary examines the report's proposed reforms, including changes to disaster declarations, funding, mitigation grants, and the National Flood Insurance Program (NFIP), with a focus on the potential impact on states and localities.
A Quieter Forecast, but No Clear Skies for Insurers
KBRA previews the 2026 Atlantic hurricane season (June 1 to November 30). While the season is forecast to be below normal, it does not eliminate catastrophe risk. Even a quiet season can produce a single storm that generates outsized insured losses if it strikes a high-value, coastal market. Insurers enter this season with stronger capital, improved underwriting results, and broader reinsurance availability than in 2022-23. At the same time, rate pressure, loss-cost inflation, geographic concentration, attachment point discipline, and reinsurance counterparty and exhaustion risk can still pressure key financial metrics.