Industry News

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Students from 9 University Teams To Compete at RIMS 2019

RIMS, the risk management society™, has selected nine universities to compete in Boston for the 2019 Spencer-RIMS Risk Management Challenge top honor.
March 19, 2019 Read More
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RAA Reports Improved US Reinsurer Operating Results Year over Year

The latest Reinsurance Association of America (RAA) survey reveals that a group of 17 US property-casualty reinsurers wrote $59.3 billion of net premiums during the 12 months ended December 31, 2018, compared to $45.3 billion for the same period in 2017.
March 19, 2019 Read More
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Hamilton Acquires Pembroke Managing Agency and Ironshore Europe

Bermuda-based Hamilton Insurance Group, Ltd. (Hamilton), is set to acquire Liberty Mutual Group's Pembroke Managing Agency Limited at Lloyd's and its Dublin-based Ironshore Europe DAC business.
March 15, 2019 Read More
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Bermuda Included in EU Tax Blacklist in "Error"

The European Union has updated its list of noncooperative tax jurisdictions. The so-called blacklist document identifies 15 countries for failing to meet agreed good tax governance standards. This year's list includes Bermuda, the world's largest captive domicile.
March 15, 2019 Read More
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Michigan State University Turns to Captive Insurance Following Scandal

In a recent Wall Street Journal article by Melissa Korn, titled "After Nassar Scandal, Michigan State Lacks Broad Sexual-Misconduct Insurance," it was reported that Michigan State University has turned to a captive insurance solution after finding itself without direct liability insurance for sexual-misconduct claims following the Larry Nassar sex-abuse scandal.
March 12, 2019 Read More
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Now Underway, the CICA Conference Looks at Captives Shaping the Future

This year's Captive Insurance Companies Association (CICA) International Conference, "Captives: Shaping the Future," is now underway from March 10–12 at the JW Marriott Starr Pass Resort & Spa in Tucson. Some of the captive industry's best minds converge with CICA to examine captive solutions and strategies found in the opportunity-rich captive industry.
March 11, 2019 Read More
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Clyde & Co M&A Report Finds Reinsurers Using Diverse Growth Tactics

Clyde & Co reported that completed insurance industry mergers and acquisitions (M&A) worldwide remained robust in 2018 with a slowdown in dealmaking during the fourth quarter.
March 08, 2019 Read More
  Asia Pacific

Sigma: Economic Power Continues To Shift from West to East

According to the latest "sigma" report from Swiss Re, emerging markets will remain the growth engine for the global economy and insurance industry over the next decade.
March 07, 2019 Read More
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IVANS: Commercial Lines Renewal Rates Experience Positive Changes

IVANS has announced the "IVANS Index: Premium Renewal Rate Index" February results. Year over year, February results showed an increase in premium renewal rate change across all major commercial lines of business except workers compensation.
March 07, 2019 Read More
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Aon Drops Its Plans To Buy Willis Towers Watson

A day after Aon PLC said it was considering buying rival Willis Towers Watson PLC, Aon disclosed Wednesday that it is dropping the plan, which would have resulted in the creation of the world's largest captive insurance company manager.
March 06, 2019 Read More
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A Blockchain-Fueled Bermuda Insurance Exchange To Go Live in 2019

The Bermuda Insurance Exchange, a blockchain risk and capital exchange for the insurance and reinsurance market, will be launched later this year.
March 06, 2019 Read More
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NAIC Releases 2018 Property-Casualty Insurer Market Share Data

The National Association of Insurance Commissioners (NAIC) recently released data on property-casualty insurers. The data include market share information indicating the degree of market concentration in lines of business and identify leading insurance writers. The 2018 market share data include countrywide direct written premium for the top 25 insurers.
March 05, 2019 Read More
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A.M. Best: Investors Pressure Reinsurance Sector

Despite the expectation that reinsurers would adjust their pricing amid the segment's depressed performance and following the nearly $200 billion in losses for the prior 18 months, reinsurance renewal rates were mostly flat, with some exceptions.
March 04, 2019 Read More
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Fitch: UK Rating Watch Negative Does Not Threaten Insurer Ratings

Fitch Ratings said that its Brexit-driven rating watch negative on the United Kingdom does not imply an immediate threat to UK insurance company ratings.
March 01, 2019 Read More
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First Catastrophe Bond Issued Out of Singapore

Insurance Australia Group has sponsored the first catastrophe bond issued out of Singapore by Orchard ILS Pte. Ltd.
March 01, 2019 Read More
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March "CICR" Examines Best Practices for "Pooling Arrangements"

Don't miss the March issue of "Captive Insurance Company Reports" ("CICR"), which looks at best practices for "pooling arrangements."
February 28, 2019 Read More
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Pool Re Issues World's First Terrorism Catastrophe Bond

Britain's state-backed terrorism reinsurer, Pool Re, recently placed a 3-year £75 million catastrophe bond that was issued through a special-purpose vehicle, Baltic PCC Ltd.
February 28, 2019 Read More
  Political Risk

Marsh: Political Risks Bring Unprecedented Uncertainty

According to the latest report from Marsh, titled "Political Risk Map 2019," rising geopolitical tensions and protectionist sentiments, coupled with ongoing trade disputes, are leading to increased uncertainty and risk for multinationals with direct foreign investments.
February 27, 2019 Read More
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Marsh Finds Global Commercial Insurance Pricing Up Fourth Quarter

Marsh's fourth quarter 2018 "Global Insurance Market Index" revealed that commercial insurance pricing increased for the fifth consecutive quarter in the fourth quarter of 2018. Read about the report's key findings.
February 26, 2019 Read More
  Energy Industry

Captive Insurance Is Important for Risk Management in Energy Companies

In a recent report provided by Aon, titled "Supporting The Energy Industry Through Captive Insurance Programs," the organization said that captive insurance is an important component of energy companies' risk management strategies.
February 26, 2019 Read More