Industry News

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Bermuda Accounted for 63 Percent of ILS Issued during First Quarter

According to Bermuda Monetary Authority's "Bermuda Insurance-Linked Securities (ILS) Market Report" for the first quarter of 2018, the island remained the leading jurisdiction for ILS issuance, representing 75 percent of the global outstanding ILS capacity at the end of the quarter ($24.8 of $33.3 billion total global capacity).
October 04, 2018 Read More
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Randall & Quilter Acquires Captive Insurance Company

Randall & Quilter Investment Holdings Ltd. will acquire Western Captive Insurance Company Designated Activity Company, the Irish-domiciled captive insurance company of the Coffey Group of companies in Ireland.
October 03, 2018 Read More
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Marsh and IBM To Use Blockchain Proof of Insurance through Salesforce

Marsh is expanding its collaboration with IBM to provide clients with wider access to the industry's first commercial blockchain solution for proof of insurance.
October 02, 2018 Read More
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October "CICR" Looks at Hints into IRS "Views" on Captives

Don't miss the October issue of "Captive Insurance Company Reports" (CICR), where Charles "Chaz" Lavelle, senior partner at Bingham Greenebaum Doll LLP, looks at two Internal Revenue Service (IRS) documents that provide "hints" into how the IRS views captives.
October 02, 2018 Read More
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Kroll Bond Rating Agency Nominated for Rating Agency of the Year

Kroll Bond Rating Agency (KBRA) was recently nominated as rating agency of the year at the 11th Annual Reactions North America Awards dinner. This was the first time KBRA was nominated since entering the space 2 years ago due to the expansive growth in the sector.
October 01, 2018 Read More
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Excess and Surplus Lines Market Poised To Make Underwriting Profit

Modest recovery is expected to continue for the US excess and surplus lines insurance market, which will provide a boost for US property-casualty insurance companies that have significant operations in this specialty segment.
September 28, 2018 Read More
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Adverse Risk Selection May Affect Insurers That Do Not Innovate

A significant majority of insurers understand that innovation is increasingly becoming a differentiator in the global marketplace, according to an A.M. Best survey of its rated entities.
September 28, 2018 Read More
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New Middle-Market Group Captive Insurance Company Launched

Ohio-based Hylant Group Inc. has formed a new Tennessee-domiciled group captive insurance company for middle-market businesses.
September 27, 2018 Read More
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Hurricane Florence May Be Material for the NFIP

Fitch Ratings expects Hurricane Florence to result in substantial insured losses from water-related claims, which are likely to be incurred by the National Flood Insurance Program (NFIP), private flood insurers, and auto insurers, with a modest level of losses ceded to the traditional reinsurance and insurance-linked securities markets.
September 26, 2018 Read More
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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