Industry News

  Company Acquisition-SF

AIG Expands Underwriting Capabilities with Glatfelter Acquisition

American International Group, Inc. (AIG), has entered into a definitive agreement to acquire Glatfelter Insurance Group (Glatfelter), a full-service broker and insurance company providing services for specialty programs and retail operations.
September 25, 2018 Read More
  Free Webinar 480x377

Sign Up for Management Services International's Captive Insurance Webinar

Join Management Services International for a complimentary captive insurance webinar that will take place Wednesday, September 26, 2018. Back by popular demand, the 100-minute course begins at 11:00 a.m. (EST) and will be hosted by Jeremy Colombik and Richard Colombik.
September 21, 2018 Read More
  Hurricane-Image - SF

Free Information Resources for Areas Affected by Hurricane Florence

International Risk Management Institute, Inc. (IRMI®), is providing several free resources to the public in North Carolina, South Carolina, and Virginia to help victims and insurance professionals navigate the insurance process after the devastation of Hurricane Florence.
September 20, 2018 Read More
  Hooded Hacker - SF

More Frequent Cyber-Related Losses Expected over Next 12 Months

Around half of insurance industry practitioners see the risk of "silent cyber" exposure—potential cyber-related losses due to silent coverage from insurance policies not specifically designed to cover cyber risk—as growing over the coming year.
September 20, 2018 Read More
  Student Essay SF

CICA and SRS Announce Captive Insurance Industry Essay Contest

In conjunction with sponsor Strategic Risk Solutions (SRS), the Captive Insurance Companies Association (CICA) has announced an essay contest for college students studying risk management and insurance. Essay contest winners receive cash prizes and the opportunity to present their winning papers at the 2019 CICA International Conference in Tucson, Arizona, March 10–12.
September 19, 2018 Read More
  Handshake Merger-SF

Marsh & McLennan To Acquire Jardine Lloyd Thompson Group Plc

Marsh & McLennan Companies Inc. announced that it will acquire Jardine Lloyd Thompson Group plc for an estimated enterprise value of $6.4 billion.
September 18, 2018 Read More
  Handshake Merger-SF

Markel To Acquire Nephila Holdings Limited

Markel Corporation (Markel) and Nephila Holdings Limited (Nephila) entered into a definitive agreement for Markel to acquire all of the outstanding shares of Nephila. The transaction is expected to close in the fourth quarter of 2018.
September 18, 2018 Read More
  Financial Document and Graph SF

New Group Formed To Help Captive Insurer and Reinsurer Profitability

The newest Aon Reinsurance Solutions advisory team will provide capital optimization services for re/insurers, Lloyd's syndicates, and captive insurers.
September 18, 2018 Read More

Join the Connecticut Captive Insurance Association for a Cap-a-thon!

On October 16–17, the Connecticut Captive Insurance Association (CCIA) will host its 2018 Annual Collaborative focused on Innovation and Managing Cyber Risk through Captives. For this year's event, CCIA is capitalizing on the innovative hackathon concept with its Cap-a-thon (a.k.a. captive hackathon).
September 17, 2018 Read More
  Guernsey Flag-SF

Guernsey Continues To Make Captive Developments in China

As the captive domicile, Guernsey continues to make headway with the Chinese market. Wendy Weng, Guernsey Finance's Shanghai representative, said that the Chinese government has been supportive of Guernsey's promotion of captive insurance in the country, which has also had an educational element.
September 14, 2018 Read More
  Storm Waves 480x377

Most Reinsurers Will Experience Losses from Hurricane Florence

An A.M. Best briefing said most reinsurers will experience losses from Hurricane Florence due to the highly syndicated nature of property catastrophe business, and the potential exists for losses to impact alternative capacity on a reinsurance and retrocessional basis as its participation in the sector has increased year over year.
September 14, 2018 Read More
  Business Analysis Concept SF

A.M. Best's Global Reinsurance Segment Outlook Remains Negative

A new Best's Market Segment Report on the global reinsurance sector, titled "Global Reinsurance: Optimism Fizzles, It's Back to the 'New Normal,'" analyzes the state of the insurance-linked securities market following the 2017 catastrophes and also includes a top 50 ranking of the world's largest reinsurers.
September 13, 2018 Read More
  China Flag SF

KBRA Reports on "Deteriorating" US/China Relations

A report from Kroll Bond Rating Agency (KBRA) discusses current global trade conflicts in the framework of the challenge to Pax Americana. According to the report, US relations with China continue to deteriorate, and a middle ground will be hard to navigate.
September 12, 2018 Read More
  Business Growth SF

Technology Breaking Down Re/insurance "Coverage Gap" Barriers

At the Monte Carlo International Rendez-Vous of insurance and reinsurance, Swiss Re revealed that it believes some of the current improvements in the overall market environment provide a chance for the insurance sector to embrace new market dynamics such as the increased use of digital solutions.
September 11, 2018 Read More
  Man Pulling Up Statistics - SF

Swiss Re Sigma: Insurance Premium Rate Increases Will Be Needed

Swiss Re said that worldwide, most major non-life insurance markets are in a phase of below-average profitability. The reinsurer's latest sigma report assesses the existing earnings gap in the non-life insurance sector. The analysis shows that insurers in major western markets and Japan need to improve underwriting margins.
September 11, 2018 Read More
  Europe 480x377

FERMA Advises OECD, Further Indicators Not Needed for Captive Insurers

Last week the Federation of European Risk Management Associations (FERMA) responded to the Organization for Economic Cooperation and Development (OECD) concerning the captive insurance aspects of the OECD's public discussion draft document, titled "BEPS Actions 8-10 Financial Transactions," which discusses base erosion and profit shifting (BEPS) and considers the relationship between transfer pricing and value creation.
September 10, 2018 Read More
  Statistics Improvement - SF

Global Reinsurers' Earnings Have Settled, According to Fitch

Fitch Ratings has revised its outlook for the global reinsurance sector to stable from negative on the belief that earnings have settled at a "new normal," with return on capital likely to be more modest but less volatile than before.
September 07, 2018 Read More
  Upward Bar Graph - SF

Continual Increase of Nearly All Premium Renewal Rates, According to IVANS

IVANS has announced its August 2018 "IVANS Index: Premium Renewal Rate Index" results. Bouncing back from last month's results of decreasing rate change across almost all lines of business, August results show positive change across nearly all major commercial lines except for commercial auto, which experienced slight negative change.
September 07, 2018 Read More
  Rising Statistics SF2

Positive News for US Property-Casualty Re/insurers from Fitch Ratings

Operating performance moderately improved for property-casualty re/insurers during the first half of the year thanks to improved core loss ratios, lower catastrophe losses, and lower taxes along with favorable movement in loss reserves.
September 06, 2018 Read More
  CICA Leading Financial Supporter-SF

A Flurry of Awards, Designees, and Announcements in from ICCIE

The International Center for Captive Insurance Education (ICCIE) revealed that Captive Insurance Companies Association continues as its leading financial supporter and provided updates from the Vermont captive conference, where it announced the latest ICCIE fellow designee as well as the winners of the Harry House and Vermont Captive Insurance Association Distinguished Scholar Awards.
September 05, 2018 Read More