Industry News

  Gavel on Top of Legal Books

RIMS White Paper Explores 2018's Top 6 Legal Developments

A new RIMS report, titled "Top Six Legal Developments of 2018," highlights the most significant legal decisions of 2018 and explores their relevance to the risk management community.
November 15, 2018 Read More
  Malta Merger SF

SRS Europe Steers into Malta with Ark Management Acquisition

Strategic Risk Solutions Europe (SRS Europe) will acquire a majority share of Malta-domiciled Ark Insurance Management PCC Limited (Ark) as the firm accelerates its expansion into the European market.
November 13, 2018 Read More
  Mergers and Acquisitions

Marsh-JLT Specialty To Be Formed Following Acquisition Finalization

The Marsh and Jardine Lloyd Thompson Group plc (JLT) specialty teams will combine to form Marsh-JLT Specialty as a new specialty business within Marsh. The combination will be effective once the transaction closes between Marsh's parent company, Marsh & McLennan Companies, and JLT.
November 13, 2018 Read More
  Excellent Rating 480x377

A.M. Best-Rated European Captives Are Stable, According to Report

A recent A.M. Best report describes the main rating considerations the rating agency uses for captives with European parent groups. The report shows that A.M. Best European captive ratings have been stable through the past year, with most of the ratings affirmed and their stable outlooks maintained.
November 12, 2018 Read More
  Bermuda flag-SF

BDA's Economic Impact to Bermuda: $26.3 million According to PwC

A recent economic impact study provided by PricewaterhouseCoopers (PwC) findings show that the Bermuda Business Development Agency (BDA) had a direct economic impact on the island's economy of $26.3 million in 2017.
November 09, 2018 Read More
  Profitability Report-SF

Commercial Market Firming According to WTW

Willis Towers Watson (WTW) recently released a report, titled "Insurance Marketplace Realities 2019," as guidance for North American insurance buyers preparing for upcoming insurance program renewals. Findings from the report show that commercial insurance buyers are facing upward pricing pressure across most lines of business in 2019.
November 09, 2018 Read More
  Time Concept SF

Check Out's "History of Captives" Timeline Updates

Hugh Rosenbaum and his panel of timeline advisers recently deliberated and agreed upon some new entries for's "History of Captives" timeline. Check out the updates today!
November 08, 2018 Read More
  Upward trend 2018-SF

IVANS: Commercial Lines Renewal Rates Continue Trending Positive

IVANS has announced the "IVANS Index: Premium Renewal Rate Index" October results. The results showed a continued increase in premium across nearly all major commercial lines except workers compensation.
November 08, 2018 Read More
  Global Mergers and Acquisitions

Cayman Leads in Offshore M&A Deals, According to Appleby Report

An Appleby report for the first half of 2018 found much of the world has seen a fallback in the volume of offshore merger and acquisition (M&A) deals. Yet, according to the law firm, value is up "firmly" and organizations are benefiting from a "resurgent world economy."
November 07, 2018 Read More
  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

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
  Number Ball 480x377

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
  Ransomware 480x377

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
  shaking hands-deal 480x377

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
  Bermuda Flag 480x377

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
  Brexit Eggxit 480x377

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