Industry News

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Best's Briefing: Considers Hurricane Michael Catastrophe Losses

Although Florida's insurance market-share leaders possess strong levels of risk-adjusted capitalization that should provide a buffer against Hurricane Michael losses, insurers, reinsurers, and insurance-linked securities investors could face significant losses, according to a new A.M. Best briefing.
October 12, 2018 Read More
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Allianz Restructures Its Alternative Risk Transfer Line

Allianz Global Corporate & Specialty will restructure its alternative risk transfer (ART) line of business into two teams. ART Chief Underwriting Officer Richard Boyd will head up the capital solutions insurance-linked markets team. The remaining ART practice groups will be led by Michael Hohmann.
October 11, 2018 Read More
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"You Own an Insurance Company, Now What?" Free Captive Insurance Webinar

Join Management Services International for a complimentary captive insurance webinar, "Captives 2.0: You Own an Insurance Company, Now What?," that will take place on Thursday, October 18, 2018. The course begins at 2:00 p.m. (EDT) and will be hosted by Jeremy Colombik.
October 10, 2018 Read More
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Greenlight Re Invests in Healthcare Benefits Administrator

Greenlight Re has invested in Sana Benefits, an Austin-based third-party administrator startup focused on the self-insured healthcare market in the United States. Sana Benefits helps small-to-medium-sized businesses access employee benefit plans to self-insure their employees.
October 09, 2018 Read More
  Risk Management

FERMA Says Risk Managers Play Major Role in Business Transformation

In a statement from the 2018 European Risk Management Seminar, the Federation of European Risk Management Associations (FERMA) said demand for sustainability, good corporate behavior, and rapid digitization are leading to profound changes in organizations and the work of risk managers.
October 09, 2018 Read More
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Man-Made Risks Forecast To Cost World's Cities $320 Billion Annually

Man-made risks like cyber crime, interstate conflicts, or market crashes are a bigger threat to economic output than natural disasters such as hurricanes, floods, earthquakes, and volcanoes, putting an estimated $320.1 billion of global gross domestic product at risk on average each year, according to Lloyd's.
October 08, 2018 Read More
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Ignoring Culture Is Not an Option in M&A Transactions

Mercer's mergers and acquisitions (M&A) readiness research report, titled "Mitigating Culture Risk to Drive Deal Value," found that 43 percent of M&A transactions worldwide experienced such serious culture issues that deals were delayed or terminated or purchase prices were negatively impacted. In addition, 67 percent experienced delayed synergy realization due to culture issues.
October 05, 2018 Read More
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Reinsurance M&A Driven by Strong Competition and Scale Benefits

Consolidation of the global reinsurance industry will continue, as intense market competition and capital levels drive mergers and acquisitions (M&A), while smaller players lacking scale and diversification see further pressure on growth and profitability, Fitch Ratings said.
October 05, 2018 Read More
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Bermuda Accounted for 63 Percent of ILS Issued during First Quarter

According to Bermuda Monetary Authority's "Bermuda Insurance-Linked Securities (ILS) Market Report" for the first quarter of 2018, the island remained the leading jurisdiction for ILS issuance, representing 75 percent of the global outstanding ILS capacity at the end of the quarter ($24.8 of $33.3 billion total global capacity).
October 04, 2018 Read More
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Randall & Quilter Acquires Captive Insurance Company

Randall & Quilter Investment Holdings Ltd. will acquire Western Captive Insurance Company Designated Activity Company, the Irish-domiciled captive insurance company of the Coffey Group of companies in Ireland.
October 03, 2018 Read More
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Marsh and IBM To Use Blockchain Proof of Insurance through Salesforce

Marsh is expanding its collaboration with IBM to provide clients with wider access to the industry's first commercial blockchain solution for proof of insurance.
October 02, 2018 Read More
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October "CICR" Looks at Hints into IRS "Views" on Captives

Don't miss the October issue of "Captive Insurance Company Reports" (CICR), where Charles "Chaz" Lavelle, senior partner at Bingham Greenebaum Doll LLP, looks at two Internal Revenue Service (IRS) documents that provide "hints" into how the IRS views captives.
October 02, 2018 Read More

Kroll Bond Rating Agency Nominated for Rating Agency of the Year

Kroll Bond Rating Agency (KBRA) was recently nominated as rating agency of the year at the 11th Annual Reactions North America Awards dinner. This was the first time KBRA was nominated since entering the space 2 years ago due to the expansive growth in the sector.
October 01, 2018 Read More
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Excess and Surplus Lines Market Poised To Make Underwriting Profit

Modest recovery is expected to continue for the US excess and surplus lines insurance market, which will provide a boost for US property-casualty insurance companies that have significant operations in this specialty segment.
September 28, 2018 Read More
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Adverse Risk Selection May Affect Insurers That Do Not Innovate

A significant majority of insurers understand that innovation is increasingly becoming a differentiator in the global marketplace, according to an A.M. Best survey of its rated entities.
September 28, 2018 Read More
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New Middle-Market Group Captive Insurance Company Launched

Ohio-based Hylant Group Inc. has formed a new Tennessee-domiciled group captive insurance company for middle-market businesses.
September 27, 2018 Read More
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Hurricane Florence May Be Material for the NFIP

Fitch Ratings expects Hurricane Florence to result in substantial insured losses from water-related claims, which are likely to be incurred by the National Flood Insurance Program (NFIP), private flood insurers, and auto insurers, with a modest level of losses ceded to the traditional reinsurance and insurance-linked securities markets.
September 26, 2018 Read More
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AIG Expands Underwriting Capabilities with Glatfelter Acquisition

American International Group, Inc. (AIG), has entered into a definitive agreement to acquire Glatfelter Insurance Group (Glatfelter), a full-service broker and insurance company providing services for specialty programs and retail operations.
September 25, 2018 Read More
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Free Information Resources for Areas Affected by Hurricane Florence

International Risk Management Institute, Inc. (IRMI®), is providing several free resources to the public in North Carolina, South Carolina, and Virginia to help victims and insurance professionals navigate the insurance process after the devastation of Hurricane Florence.
September 20, 2018 Read More
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More Frequent Cyber-Related Losses Expected over Next 12 Months

Around half of insurance industry practitioners see the risk of "silent cyber" exposure—potential cyber-related losses due to silent coverage from insurance policies not specifically designed to cover cyber risk—as growing over the coming year.
September 20, 2018 Read More