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
KBRA Global Rating Stability and Transition Study: 2011-2025
KBRA examines the stability and transition patterns of our ratings over a 1-year, 3-year, 5-year, and lifetime period between 2011 and 2025. The ratings universe used in this study includes both published and unpublished long-term credit ratings (LTCR) assigned across all geographical regions.
Catastrophe Bonds and Insurer Credit Profiles: A Ratings Perspective
CAT bonds are an important risk transfer tool that help insurers reduce tail risk volatility, strengthen capital adequacy, and stabilize earnings when integrated into broader reinsurance programs. KBRA views them as complementary to traditional reinsurance, noting that while most rated insurers can absorb moderate catastrophe losses with existing protections, those with high catastrophe exposure, weaker capital buffers, or riskier trigger structures may face greater rating sensitivity after severe events.
Private Credit: From Acquisitions to Partnerships—Asset Managers’ Growing Role With Life/Annuity Insurers
Since KBRA’s 2022 report on asset manager participation in the life and annuity sector, transaction structures, participant profiles, and strategic motivations have continued to expand and evolve. KBRA believes these partnerships between investment firms and insurers are likely to keep developing and may support long term stability across the sector.