Industry News

  Rising Statistics SF2

ILS Capacity Continues with Record-High $1.6 Billion Issuance

Willis Re's third quarter insurance-linked securities (ILS) update reveals, "a record-high $1.6 billion of nonlife ILS capacity was issued in Q3, 2018…. The total exceeds the former Q3 record of $1.4 billion achieved in 2013 and is well ahead of the 5-year average of $800 million."
November 06, 2018 Read More
  Beach house damaged by hurricane

Willis Re Report Details Hurricane Michael's Damage

Willis Re released a new damage survey report detailing the various damage patterns that it observed in the organization's field reconnaissance efforts following Hurricane Michael. The hurricane was 2018's 11th named storm and made landfall on the Florida Panhandle as a Category 4 hurricane on October 10.
November 06, 2018 Read More
  Acquisition

SOBC DARAG Completes Peachtree Runoff Acquisition

The joint venture SOBC DARAG has completed its first acquisition: Florida-based Peachtree Casualty Insurance Company (Peachtree). SOBC DARAG was formed in Delaware to support DARAG's expansion into the US and Bermuda/Caribbean runoff markets. The joint venture and Peachtree acquisition were both announced in mid-August.
November 05, 2018 Read More
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October Release of "Risk Financing" Focuses on Risk Quantification

The latest release of "Risk Financing" features updates to the risk quantification factors in its famed "Appendix F," including updates to the workers compensation loss development factors, benefit level adjustments, and the consumer price index.
November 02, 2018 Read More
  CICR Image-SF

November "CICR" Brings an In-Depth Look at Tax Reform and Captives

Don't miss the November issue of "Captive Insurance Company Reports" ("CICR"), where you'll get answers to all of your questions about navigating tax reform in the captive insurance industry in an in-depth article from Daniel J. Kusaila, certified public accountant and tax partner at Crowe Horwath LLP.
November 02, 2018 Read More
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Ransomware Attacks Spike, Leading to Increased Demand Values

According to new data released by Beazley, reported cases of ransomware attacks and the value of ransom demands in the most sophisticated type of breaches have spiked in the third quarter of 2018.
November 01, 2018 Read More
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Facultative Reinsurance Runoff Transaction Completed for Workers Comp

Randall & Quilter Investment Holdings Ltd. (R&Q) has issued a facultative reinsurance certificate to a large US property-casualty insurer. The collateralized reinsurance policy was written from a cell within R&Q's wholly owned subsidiary, R&Q Quest Insurance Limited.
November 01, 2018 Read More
  Global Pricing-SF

Emerging Economies Insurance Gap Persists, According to Lloyd's

In "A World at Risk: Closing the Insurance Gap," the latest research from Lloyd's, the organization found $163 billion of assets are underinsured in the world today, leaving an exposure gap that poses a significant threat to livelihoods and global prosperity.
October 31, 2018 Read More
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KBRA: Bermuda Business Environment Fosters (Re)Insurance Innovation

In a report, Kroll Bond Rating Agency (KBRA) said Bermuda's role as both a seasoned reinsurance provider and a solution incubator for the global (re)insurance industry continues, and KBRA believes Bermuda's role is perhaps even more relevant now than ever before.
October 30, 2018 Read More
  Asia Pacific

Allianz Grows Alternative Risk Transfer Line to Asia Pacific

Allianz Global Corporate & Specialty SE has expanded its alternative risk transfer (ART) line of business to the Asia Pacific region while appointing Richard Green as regional head of ART, Asia Pacific.
October 30, 2018 Read More
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AIG Obtains Final Approval for Brexit Restructure

American International Group, Inc. (AIG), subsidiary, AIG Europe Limited (AEL), has been approved to transfer its business into two new entities, allowing the organization to complete the restructuring of its European operations and ensure its readiness for Brexit.
October 26, 2018 Read More
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HyreCar To Implement Captive Insurance Solution for Ridesharing

Through a joint venture, HyreCar, Inc., will partner to create a captive insurance company designed for car sharing in the ridesharing space. The company said a captive solution will give it the flexibility to reduce risk and increase profit margins while providing tailored insurance solutions for the on-demand economy.
October 26, 2018 Read More
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Insurers and Reinsurers Actively Shaping ESG Agenda

Some major re/insurance industry participants are now actively involved in shaping the so-called environmental, social, and governance (ESG) agenda as a result of their unique role as risk managers, institutional investors, and risk insurers on behalf of a wide range of industries.
October 25, 2018 Read More
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Allianz Measures Natural Capital Risks in a Recent Report

In a recent report, titled "Measuring and Managing Environmental Exposure: A Business Sector Analysis of Natural Capital Risk," Allianz Global Corporate & Specialty delved into so-called natural capital risks. Read on to find out what is in the report.
October 25, 2018 Read More
  Hatched from an Egg Businessman-SF

Hub International Sets Up Hospitality Group Captive Insurer

Hub International Limited (HUB) has set up a hospitality member-owned group captive insurance company. HUB said it designed the hospitality group captive to meet the challenges of insuring the exposures of the hospitality industry as well as other industries.
October 24, 2018 Read More
  Data Analytics

A Look at the New Willis Towers Watson Captive Quantified Model

Captive.com recently sat down with Sean B. Rider, executive vice president and managing director of Willis Tower Watson's global captive practice, to discuss the evolution of the organization's newest model, "Captive Quantified," and its reception in the captive insurance market.
October 23, 2018 Read More
  Business Mainstream SF

ILS "Alternative Capital" Has Become Mainstream

Those active in insurance-linked securities (ILS)—end investors, ILS funds, and buyers—have predominantly weathered 2017 loss activity with a view that reinsurance products backed by "alternative" capital have become mainstream, according to the latest Willis Towers Watson "Global ILS Market Survey."
October 23, 2018 Read More
  ERIC-2019-SF

Register for the 2019 IRMI Energy Risk & Insurance Conference (ERIC)

International Risk Management Institute, Inc. (IRMI®), has opened registration for the 2019 IRMI Energy Risk & Insurance Conference (ERIC), to be held February 25–27, 2019, at the Royal Sonesta in Houston.
October 22, 2018 Read More
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Swiss Re Shoulders $1.1 Billion from Nat Cat Claims in Third Quarter

In the third quarter of this year, Swiss Re estimated it will shoulder combined claims costs of $1.1 billion from recent natural catastrophes (net of retrocession and before tax). While the third-quarter loss estimates are large for an individual quarter for Swiss Re, the cumulative losses for the first 9 months are broadly in line with year-to-date expectations.
October 19, 2018 Read More
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Demotech Releases Second Quarter 2018 Financial Analysis of RRGs

Demotech has released its "Analysis of Risk Retention Groups—Second Quarter 2018," reporting on the overall financial performance of risk retention groups (RRGs). Demotech's senior financial analyst, Douglas Powell, has concluded that "RRGs have a great deal of financial stability and remain committed to maintaining adequate capital to handle losses."
October 19, 2018 Read More