Industry News

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Davies Group Acquires R&Q's Captive Management Operations

Davies Group, a leading operations management, consultancy, and digital solutions provider, will acquire Randall & Quilter's (R&Q) insurance services and captive management operations. The sale follows R&Q's previously announced decision to simplify its operations to focus on core high-growth activities.
January 16, 2018 Read More
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IRMI Offers New Online Transportation Certification Program

International Risk Management Institute, Inc. (IRMI®), and WebCE have launched an online curriculum for the Transportation Risk and Insurance Professional (TRIP™) certification and continuing education program at TRIP-ce.com. The TRIP program is a specialized curriculum focusing on the insurance and risk management needs of the transportation industry.
January 15, 2018 Read More
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Martin & Company Adds Employee Benefits Consulting Division

Martin & Company, an industry provider of consulting and regulatory services to the property and casualty, life and health, and captive insurance markets, recently created an Employee Benefits Consulting division and has also expanded its Life, Accident & Health department.
January 12, 2018 Read More
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FEMA Expands Its Reinsurance Program To Manage Future Flood Risk

The Federal Emergency Management Agency (FEMA) has transferred $1.46 billion of the National Flood Insurance Program (NFIP) financial risk to the private reinsurance market. The 2018 reinsurance placement covers portions of NFIP losses above $4 billion arising from a single flooding event.
January 11, 2018 Read More
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Willis Re Reports on One of the Worst Loss Years on Record

With recent catastrophe loss estimates in the region of $136 billion, 2017 is proving to be one of the worst loss years on record for the global re/insurance market, according to the latest "1st View" renewals report from Willis Re. The report concludes that the stability of the reinsurance market bodes well for its future development.
January 11, 2018 Read More
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4 Captive Insurer Resolutions for 2018

With the start of a new year, traditional practice is to set a series of resolutions for personal fulfillment. In a similar vein, Captive.com offers a series of captive insurer resolutions for consideration in 2018. This piece explores interest rates, reinsurance pricing, technology, and talent. What are your captive insurer resolutions for the coming year?
January 10, 2018 Read More
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"CICR" Reviews Captives for Catastrophic Losses

January's "Captive Insurance Company Reports" ("CICR") begins with a discussion of captives for catastrophic losses. The same issue also reveals captivating details on a variety of other topics. Hurry to retrieve your IRMI Online or Vertafore ReferenceConnect copy. Nonsubscribers can learn more in the products section of Captive.com.
January 09, 2018 Read More
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JLT Re: Global Property Catastrophe Reinsurance Rate Firms Selectively

According to JLT Re, at January 1, the global property catastrophe reinsurance sector experienced upward pricing pressure following 5 consecutive years of falling rates. Pricing varied significantly across regions with pronounced firming restricted to classes and geographies experiencing the highest losses.
January 08, 2018 Read More
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This Year's World Captive Forum Filled with Valuable and Diverse Topics

This year's World Captive Forum will cover captive solutions for new and emerging risks. Recognized for its valuable educational content, the conference is geared toward providing cutting-edge information to risk managers, benefits managers, and financial executives whose organizations insure their risks in a captive or are exploring captive formation.
January 05, 2018 Read More
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Swiss Re Sigma Estimates: Third-Highest Recorded Global Insured Losses

Swiss Re's preliminary sigma estimates for insured global losses resulting from natural and man-made disasters in 2017 are around $136 billion, well above the annual average of the previous 10 years and the third highest since sigma records began in 1970.
January 02, 2018 Read More
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Tax Reform: Best Briefing on Insurer Benefits and Partial Offsets

According to A.M. Best, the insurance industry will see overall benefits from the reduced corporate tax rate as a result of the Tax Cuts and Jobs Act once it is signed into law; however, partially offsetting the benefits are certain revenue enhancements that will impact companies.
December 22, 2017 Read More
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NAIC Releases Property-Casualty Profitability Report by Line by State

The National Association of Insurance Commissioners (NAIC) released the "Report on Profitability by Line by State in 2016." The report estimates and allocates profitability in property-casualty insurance on a countrywide basis by state and by insurance line. The report can be utilized in further analysis of competition and market performance.
December 20, 2017 Read More
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2018 CICA Conference Keynote Speaker Has a “Passion for Change”

The Captive Insurance Companies Association (CICA) has announced that it will open its 2018 International Conference March 11–13 at the Westin Kierland Resort & Spa in Scottsdale, Arizona, with inspiration and advice from engaging cross-cultural-explorer Chris Bashinelli.
December 19, 2017 Read More
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Catastrophic Loss Estimates: The Numbers Are Numbing

Following the series of natural catastrophes clustered around the third and early fourth quarters of 2017, insurers and reinsurers provided their initial estimates of the associated incurred losses and earnings impacts. The expectation is that the initial estimates will be restated, and most likely increased, as the assessments evolve.
December 19, 2017 Read More
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Fitch Reinsurance Outlook Reveals Rate Increases Depend on ILS Appetite

Fitch Ratings has updated its "Global Reinsurance 2018 Outlook" to incorporate the catastrophe losses incurred from Hurricanes Harvey, Irma, and Maria, as well as losses from the earthquakes in Mexico and wildfires in California, and shares its findings, warnings, and expectations for the sector. One expectation being that the key driver of the magnitude of future rate increases depends on the insurance-linked securities (ILS) market's appetite to invest more capital in reinsurance.
December 15, 2017 Read More
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First Secondary Market Securities ILS Blockchain Trade Completed

Two funds have performed a secondary market insurance-linked securities (ILS) blockchain trade in notes that were digitized on a private blockchain set up by Solidum Re, a Guernsey incorporated cell company.
December 15, 2017 Read More
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Year over Year US Property and Casualty Prices Remain Nearly Flat

In the latest "Commercial Lines Insurance Pricing Survey," Willis Towers Watson reports the continuation of nearly flat commercial insurance prices in the US during the third quarter of 2017. Price changes reported by carriers averaged less than 1 percent for the ninth consecutive quarter.
December 14, 2017 Read More
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Fitch: US P&C May See Short-Lived Rate Improvement in 2018

US property and casualty insurers' operating performance appears set to rebound somewhat next year following 2017's rough catastrophe-related losses, according to Fitch Ratings in its 2018 outlook report for property and casualty insurers, "Fitch 2018 Outlook: U.S. Property/Casualty Insurance." While Fitch's rating outlook is stable for P&C insurers, the fundamental sector outlook remains negative.
December 14, 2017 Read More
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Expect Puerto Rico Captive Insurance Initiatives in 2018

According to the Puerto Rico International Insurers Association (PRIIA), the US territory's insurance and financial services sector continues to grow with minimal interruption in the aftermath of Hurricane Maria and despite ongoing budget challenges. PRIIA said Puerto Rico has a strong and bright future ahead for insurance opportunities, including captive insurance company formations.
December 13, 2017 Read More
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"CICR" Reports on Blockchain in Credit Insurance

December's "Captive Insurance Company Reports" ("CICR") begins with a discussion of blockchain in the trade finance/credit insurance market. The same issue also reveals captivating details on a variety of other topics. Hurry to retrieve your IRMI Online or Vertafore ReferenceConnect copy. Nonsubscribers can learn more in the products section of Captive.com.
December 12, 2017 Read More