Industry News

  Bermuda Map

Bermuda Accounted for $3.6 Billion of ILS Issued during Second Quarter

According to the latest "Bermuda Insurance-Linked Securities (ILS) Market Report," for the second quarter of 2018, the island remained the leading jurisdiction for ILS issuance, representing 73.2 percent of the global outstanding ILS capacity at the end of the quarter ($26 billion of $35.5 billion total global capacity).
December 06, 2018 Read More
  Risk Management

Risk Manager's Role Evolving To Support Profound Organizational Change

The roles of risk managers across Europe were explored in the 9th "European Risk Manager Survey." The survey, conducted by FERMA, PwC France, and Francophone Africa, explored the work of risk managers in supporting the success and sustainability of their organizations.
December 05, 2018 Read More
  Bermuda flag-SF

BMA Report: Bermuda's Catastrophe Resilience Stronger Year over Year

The Bermuda Monetary Authority (BMA) has released its third annual "Catastrophe Risk in Bermuda" report, which, according to the BMA, demonstrates (re)insurers continued resilience to major, but improbable, catastrophe events and the sophistication and advancement of catastrophe modeling practices in Bermuda.
December 04, 2018 Read More
  Computer with Gears - SF

Pentacle Brings an "Out-of-the-Box" Solution to Insurance Data Capture

Pentacle Data Solutions (Pentacle) has launched an "out-of-the-box" product that it said will benefit the captive insurance industry. Pentacle offers a comprehensive and practical solution for data capture, offering an insurance platform that grows with the user.
December 04, 2018 Read More
  Innovation Lightbulb SF

Premier: "Innovation Is Inside the Collective DNA of All Bermudians"

The recent Bermuda Business Development Agency FinTech forum at ME London explored commercialization of FinTech, banking of digital assets, and Bermuda's new regulatory framework governing initial coin offerings, virtual asset business, and InsurTech. There was also a forum focused on insurance-linked securities, whose global market capacity Bermuda dominates.
November 30, 2018 Read More
  global increase -SF

Swiss Re Sigma: Emerging Asia Will Continue To Power Insurance Market

Swiss Re believes global economic growth will remain strong over the next 2 years, although it said momentum has peaked.
November 30, 2018 Read More
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RAA Reports Continued Improvement in US Reinsurers' Operating Results

The latest Reinsurance Association of America (RAA) survey reveals that a group of 18 US property-casualty reinsurers wrote $45.5 billion of net premiums during the 9 months ended September 30, 2018, compared to $34.2 billion for the same period in 2017.
November 29, 2018 Read More
  CICR Image-SF

December "CICR" Brings a View on Scandinavian Captives

Don't miss the December issue of "Captive Insurance Company Reports" ("CICR"), which brings you a view from Scandinavia. Get the history as well as the current and future state of the Scandinavian captive market provided by Fredrik Finnman, head of group risk management at Sandvik.
November 29, 2018 Read More
  Actuarial Report-SF2

New Risk Distribution Measure Offered by Pinnacle

With the issue of risk distribution squarely in the spotlight, Pinnacle provides an actuarial response in the form of a new tool. Find out more in Pinnacle's latest peer-reviewed paper, titled "Expected Adverse Deviation (EAD) as a Measure of Risk Distribution." Read about it on today!
November 28, 2018 Read More
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Through its wholly owned subsidiary SOBC DARAG Holdings Ltd., DARAG Guernsey has acquired the entire share capital of SOBC Services. SOBC DARAG focuses on acquisitions, loss portfolio transfers, and other business transfers for insurance companies, captive insurance companies, and risk retention groups within the US, Bermuda, and Caribbean runoff markets.
November 27, 2018 Read More
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First Captive Management License in Abu Dhabi Accorded to Marsh

Marsh has announced that it has obtained the first license to provide captive insurance management services in Abu Dhabi. The firm will operate as Marsh Management Services (MENA) Limited and is the first company to be authorized as a captive insurance manager by the Abu Dhabi regulatory authority.
November 27, 2018 Read More
  Young Businessmen Meeting Feature

An Update on Butler University's Student-Led Captive and MSRI Program

Catch up on latest phase of Butler University's student-led captive insurance company, get background on the university's new online master of science in risk and insurance (MSRI) program, and hear what professor Zach Finn says about the role of captive insurance as a "mainstream" risk management tool and changing attitudes in the insurance industry.
November 27, 2018 Read More

California Wildfire Losses Manageable, According to KBRA

In a new report, Kroll Bond Rating Agency (KBRA) said California is experiencing some of the most devastating and catastrophic wildfires in the state's (and country's) history for the second year in a row and expects these losses to be manageable for most (re)insurers.
November 26, 2018 Read More
  Firefighter Heroes-SF

RMS Estimates California Wildfire Insured Losses between $9 Billion and $13 Billion

RMS recently projected that insured loss for the Camp and Woolsey wildfires in California will be between $9 billion and $13 billion. RMS said this fire season represents the second consecutive year with more than $10 billion in insured wildfire loss.
November 26, 2018 Read More
  Dead Burned Trees-SF

California Wildfires: Losses Expected To Reach Record Levels

In a recent report, titled "California Wildfires Losses Projected To Reach Record Levels," A.M. Best said that 2018 losses from California's latest round of wildfire activity will be at record levels.
November 26, 2018 Read More
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A New Look and Tagline Will Greet Cayman Captive Forum Attendees

The Insurance Managers Association of Cayman (IMAC) launched the annual Cayman Captive Forum 26 years ago as the world's largest captive insurance conference, said IMAC. At the 26th annual Cayman Captive Forum, November 27–29, 2018, over 1,400 captive insurance specialists will convene.
November 20, 2018 Read More
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Regulators Focus on Cyber, Big Data, AI, and Intragroup Transactions

Insurance regulators from the United States and the European Union were joined by representatives from industry and consumer organizations to discuss challenges and opportunities related to cyber risks, the use of big data, artificial intelligence (AI), and intragroup transactions in multinational insurance groups at the 6th EU-US forum held in Luxembourg.
November 20, 2018 Read More
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UK Insurers Make Plans for Passporting Rights Loss after Brexit

When the United Kingdom withdraws from the European Union, and at the end of any transition period, passporting rights that currently exist between the United Kingdom and the European Economic Area are expected to cease. A.M. Best explores this in a report, titled "UK Insurers Prepare for Loss of Passporting Rights Post Brexit."
November 20, 2018 Read More
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Mary McMorrow To Head SRS Europe's New Governance Practice

Mary McMorrow has joined Strategic Risk Solutions Europe (SRS Europe) to head the firm's new governance practice in developing and delivering governance services to European captive insurers as well as commercial insurance companies.
November 16, 2018 Read More
  Handshake Merger-SF

Capstone Looks To Acquire Captive Management Portfolios

In its latest expansion push, Houston-based Capstone Associated Services, Ltd. said it is interested in acquiring the US captive management portfolios of other captive insurance management firms. Read on to learn more!
November 16, 2018 Read More