Industry News

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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
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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
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Commercial Auto Group Captives Set To Form in Canada

In an effort to combat commercial auto trends in Canada, eCaptiv and a group of independent insurance brokers will form two group captives.
February 22, 2019 Read More
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Intelligence Sharing Across Organizations Next Step in Cyber Security

Aon recently released a cyber risk report describing the greatest cyber-security threats and challenges now faced by organizations. The report considers that as companies continue to use technology to speed up the transfer of information, they create game-changing business opportunities as well as increased cyber risk.
February 22, 2019 Read More
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DC Mayor Establishes Regulatory Sandbox and Innovation Council

Washington, DC, Mayor Muriel Bowser recently established the District of Columbia Financial Services Regulatory Sandbox and Innovation Council, which will include captive insurance industry representation.
February 21, 2019 Read More
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MSI Releases New Podcast: "Captive Insurance for Dummies"

Management Services International (MSI) has just released its first podcast, titled "Captive Insurance for Dummies," which is immediately available free of charge from the MSI podcast library.
February 20, 2019 Read More
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Bermuda Runoff Reinsurer Premia Re A- Rating Affirmed by KBRA

Kroll Bond Rating Agency (KBRA) has affirmed the financial strength rating of A- of Premia Reinsurance Ltd., a Class 4 Bermuda specialty reinsurer focused on acquiring nonlife runoff liabilities. KBRA believes its sound capitalization is sufficient to support the company's planned acquisition strategy of runoff liabilities in the medium term.
February 18, 2019 Read More
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FERMA: AI Has Growing Implications for Risk Management

The Federation of European Risk Management Associations (FERMA) said that it welcomes the European Commission's draft guidelines on artificial intelligence (AI) ethics. FERMA believes that the development and application of AI have growing implications for European risk managers.
February 15, 2019 Read More
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Registration Now Open for Bermuda Captive Conference 2019

Registration is now open for the 15th Bermuda Captive Conference. The 3-day conference, planned for June 10−12, is staged at the Fairmont Southampton and is Bermuda's largest industry event.
February 15, 2019 Read More
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USI To Acquire U.S. Risk

USI Insurance Services (USI) will acquire U.S. Risk Insurance Group (U.S. Risk), one of the nation's largest property and casualty program and specialty brokerage firms. The transaction is expected to close in the second quarter of 2019.
February 14, 2019 Read More
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Capstone Announces Captive Insurance Portfolio Acquisition Negotiations

In a recent statement, Capstone Associated Services, Ltd., revealed that it is currently in negotiations to acquire captive insurance portfolios from captive managers and is in contact with sponsors looking to either exit the small captive business or combine forces.
February 13, 2019 Read More
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Large Medical Malpractice Claims Becoming More Frequent and More Costly

A new report issued by CRICO Strategies, "Medical Malpractice in America: A 10-year Assessment with Insights," examines national trends in claims frequency, payment, and root causes of preventable harm.
February 12, 2019 Read More
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ICCIE Update: 17 ICCIE Trained Organizations and Counting

The International Center for Captive Insurance Education's (ICCIE) website now features a page that shows which companies have qualified, to date, as ICCIE Trained Organizations. The page will be updated as companies are added to the list.
February 12, 2019 Read More