Industry News

  Euro Sign European Central Bank

"Big 4" European Reinsurers Benefit from Improving Market Conditions

Fitch Ratings said that the "big four" European reinsurers reported solid underwriting performance in the first half of 2019.
August 29, 2019 Read More
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More Consolidation Expected for Global Reinsurers

While benefiting from limited rate increases in 2018 and 2019, global reinsurance earnings remain under pressure amid continued challenging business conditions, according to S&P, which expects reinsurer mergers and acquisitions to continue during the next few years.
August 29, 2019 Read More
  Captive Globe-SF

September "CICR" Looks at "Why Go Captive?"

Don't miss the September issue of "Captive Insurance Company Reports" ("CICR"), where Steve Kinion, director of the Bureau of Captive and Financial Insurance Products, Delaware Department of Insurance, looks at "Why go captive?" The question addresses whether a state should or should not become a captive insurance domicile.
August 28, 2019 Read More
  Wildfire 480x377

Reinsurers "Uncomfortable" with Understanding of Wildfire Risk

According to S&P, reinsurers were "caught by surprise" by the back-to-back California wildfires in 2017 and 2018, and challenges persist in understanding this type of peril.
August 27, 2019 Read More
  California Wildfire Approaching Houses - SF

Reinsurance Intermediary Appointed to California Wildfire Fund

Guy Carpenter & Company, LLC, was recently appointed as the sole reinsurance intermediary for the newly formed California Wildfire Fund, currently administered by the California Earthquake Authority.
August 27, 2019 Read More
  Long-Term Care-SF

Fitch: Exposure to Long-Term Care "Remains a Plague"

Many insurers remain underreserved against the losses associated with US long-term care insurance where legacy exposures continue to plague them, according to new information from Fitch Ratings.
August 23, 2019 Read More
  Money graph

Below-Average Cat Losses Boost Reinsurer Profitability

According to the latest information from Fitch Ratings, Fitch-monitored reinsurers grew by 11.3 percent in the first half of 2019, with underwriting profitability boosted by below-average catastrophe losses.
August 22, 2019 Read More
  Data Analytics

Insurers Seek Out Differentiating Capabilities with Advanced Analytics

Technology advances in the form of advanced analytics are enabling property and casualty insurers to unlock new frontiers in risk assessment and mitigation, according to Swiss Re's latest sigma report.
August 22, 2019 Read More
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Podcast Now Available: Workers Compensation Captive Solution

Management Services International (MSI) has just released its latest podcast, titled "Captive for Dummies: Workers Compensation Captive Solution," which is immediately available free of charge at the MSI podcast library. 
August 20, 2019 Read More
  Foundation Repair-SF

Crumbling Foundations Captive Superintendent To Step Down

Michael Maglaras, principal of Michael Maglaras & Company, recently announced that he will step down in October as superintendent of the Connecticut Foundation Solutions Indemnity Company, Inc., the captive insurance company charged with providing financial assistance to homeowners affected by the crumbling foundations natural disaster.
August 19, 2019 Read More
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Global Insurance Industry Views Technology Modernization as Threat

The urgent need for business and technology modernization poses the greatest threat to the global insurance industry, according to The Insurance Banana Skins report, published by the Centre for the Study of Financial Innovation in association with PwC.
August 16, 2019 Read More
  Six panels, each showing a different natural disaster: tornado, earthquake, tsunami, volcano eruption, hurricane, and wildfire

Insured Catastrophe Losses $19 Billion First Half of 2019

Insured losses from natural catastrophes and man-made disasters in the first half of 2019 totaled $19 billion, according to Swiss Re Institute's preliminary sigma estimates.
August 16, 2019 Read More
  IRA Pension Retirement

Captive Insurance Solution Used for Large UK Pension Scheme Deal

In the second-largest-ever deal of its type, HSBC in Bermuda (advised by Aon) set up a £7 billion captive-insurance-based pension longevity swap, involving the HSBC Bank (UK) Pension Scheme and Prudential Insurance Company of America (PICA).
August 15, 2019 Read More
  A line graph with a red arrow that has separated from the floor to go up

IVANS: Some Commercial Lines Products Show Renewal Rate Increase

IVANS announced its July 2019 results showing a downtick in premium renewal rate change across half of the commercial lines products, including commercial auto, general liability, and commercial property. Businessowners policy, umbrella, and workers compensation experienced slight positive changes in July.
August 15, 2019 Read More

Registration Now Open for the 39th IRMI Construction Risk Conference

International Risk Management Institute, Inc. (IRMI), has opened registration for the 39th IRMI Construction Risk Conference. The Conference will be held November 10–13, 2019, at the Washington State Convention Center in Seattle.
August 14, 2019 Read More
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Global Commercial Insurance Pricing Up 6 Percent

Marsh recently released its "Global Insurance Market Index," which showed that average commercial insurance prices increased 6 percent in second quarter 2019.
August 13, 2019 Read More
  Slow Sign-SF

Willis Re: ILS Market Slow To Return to Normal

The insurance-linked securities (ILS) market declined year-over-year in the second quarter of 2019, with just below $1.7 billion of nonlife ILS capacity issued through 11 catastrophe bonds, according to Willis Re's latest "ILS Market Update."
August 13, 2019 Read More
  The outline of a lightbulb with stars in it and a symbol of a rocket taking off

New Reinsurance Pool for Captive Insurers Knox Re Formed

A newly launched reinsurance pool for captive insurance companies is being offered by CIC Services, LLC (CICS), for property and casualty insurance coverages.
August 12, 2019 Read More
  Hot Topics Panelists 480x377

Nimble Captive Insurers Are Here To Help

According to a panel at this year's Vermont Captive Insurance Association conference, availability of insurance became an issue for some risk managers and their organizations during this year's July renewal cycle. Fortunately, nimble captive insurers were there to help.
August 09, 2019 Read More
  Education Key 480x377

Education Is Key to Captive Insurance Company Regulation

Top captive insurance regulators Dave Provost of Vermont and Debbie Walker of North Carolina said regulators look more closely at captive insurance company business issues because captive sponsors are typically sophisticated organizations that voluntarily commit their capital.
August 09, 2019 Read More