Industry News

  North Carolina Flag 480x377

Out-of-State Attendee List Grows Ahead of NCCIA Captive Conference

In a recent communication from the North Carolina Captive Insurance Association (NCCIA), the organization said that in just 4 weeks the largest assembly of the captive industry in the Southeastern United States will get underway with the opening of the NCCIA Annual Conference in uptown Charlotte.
August 03, 2018 Read More
  Check mark 480x377

KBRA Releases Rating Report for Watford, an Arch Partner

Kroll Bond Rating Agency (KBRA) has released its rating report for Watford Holdings. Watford is a total return global re/insurer that combines underwriting medium- to long-tail casualty risks with an investment strategy focused on noninvestment grade credit assets to generate attractive operating returns.
August 03, 2018 Read More
  Business People Talking

Discuss Group Captives with Atlas Insurance Management

This year's upcoming fourth annual North Carolina Captive Insurance Association (NCCIA) conference will take place on August 20–22 at the Le Méridien in Charlotte. Chairman of Charlotte-based Atlas Insurance Management and NCCIA board member, Martin Eveleigh, will be attending the conference with the entire Atlas team.
August 02, 2018 Read More
  Risk Profile

WTW Develops New Financial Modeling Tool for Captive Insurers

Willis Towers Watson (WTW) has developed a new financial modeling tool for captive insurers called Captive Quantified. According to WTW, this is a first-of-its-kind digital tool to help organizations analyze financial feasibility and future profitability of their captive insurance strategies.
August 01, 2018 Read More
  Upward trend 2018-SF

Insurance Sector M&A Deal Value Increases 183 Percent Year over Year

According to a recent PwC report, the mergers and acquisitions (M&A) deal value in the insurance sector practically tripled during the first half of 2018 compared with the same period in 2017. The report attributes the heightened value to mega-deals and federal tax reform effects.
July 30, 2018 Read More
  Natural Disasters 480x377

2018 Natural Disaster Losses 64 Percent Lower Than 10-Year Average

The Aon Reinsurance Solutions "Global Catastrophe Recap: First Half of 2018" report reveals that global economic losses from natural disasters for the first half of 2018 were estimated at $45 billion—64 percent lower than the 10-year average of $124 billion and 48 percent lower than the 18-year average of $87 billion.
July 27, 2018 Read More
  CICR Image-SF

"CICR" Delves into "Reserve Mechanical" Small Insurance Company Case

Don't miss the August issue of "Captive Insurance Company Reports (CICR)" where Bruce Wright and Saren Goldner of Eversheds Sutherland provide an analysis of the recent small insurance company case, Reserve Mech. Corp. v. Commissioner.
July 27, 2018 Read More
  Cyber Security-SF

MSI To Discuss Cyber Security at North Carolina Captive Conference

The North Carolina Captive Insurance Association (NCCIA) is hosting its fourth annual conference on August 20–22 at the Sheraton, Le Méridien, in Charlotte. Over 200 captive industry professionals are expected to attend. Jeremy Colombik, president of Management Services International (MSI) and former chairman of the NCCIA Board, will be speaking on cyber security at the conference.
July 26, 2018 Read More
  Flooded Residential Street 480x377

NFIP Reauthorized with Continued Calls for Reform

The US House of Representatives has extended the National Flood Insurance Program (NFIP) until November 30, 2018. Many inside and outside of the insurance industry have pushed for long-term reforms to the program, such as enhancing existing technology, streamlining and simplifying the NFIP for policyholders, and developing private market options.
July 26, 2018 Read More
  Negative Trend 480x377

Competition Drives Down Some Property Catastrophe Reinsurance Pricing

According to the latest first view report from Willis Re, titled "1st View New Normal Emerges," momentum for rate increases on loss-free reinsurance accounts dissipated during the June and July property catastrophe renewals, and, in some cases, pricing declined.
July 24, 2018 Read More
  Emerging Leaders Summit

Keeping Young People Engaged: Emerging Leaders Summit Fast Approaching

International Risk Management Institute, Inc., and Young Risk Professionals are excited to announce that registration is now open for the Emerging Leaders Summit, to be held in Dallas, Texas, on September 10, 2018.
July 24, 2018 Read More
  Palm Trees in Hurricane-SF

Swiss Re Structures and Places $350 Million Florida Catastrophe Bond

Swiss Re Capital Markets successfully structured and placed the issuance of $350 million of insurance-linked securities by Frontline Re Ltd. on behalf of Frontline Insurance ("Frontline"). The transaction is Frontline's debut catastrophe bond and covers named storms in Alabama, Florida, North Carolina, and South Carolina.
July 23, 2018 Read More
  acquisition 480x377

Risk Strategies Acquires Captive Manager, Oxford Risk Management

Insurance brokerage firm Risk Strategies has acquired Oxford Risk Management Group (Oxford), an alternative risk and captive insurance and consultant. Oxford conducts captive feasibility analysis and also coordinates and manages turnkey captive insurance company arrangements, both domestically and internationally.
July 20, 2018 Read More
  Flood Houses

FEMA Launches FloodSmart Re Cat Bond for NFIP Flood Risk

The Federal Emergency Management Agency (FEMA) will launch a cat bond to transfer risk from the National Flood Insurance Program (NFIP) to the capital markets through FloodSmart Re, Ltd., a Bermuda-domiciled special purpose vehicle.
July 19, 2018 Read More
  Global Business Graph 480x377

Swiss Re sigma: Global Insurance Premiums Continued To Rise in 2017

Swiss Re's latest sigma report reveals that emerging markets continue to be a key driver of global premium growth, particularly in the life sector, as China remained among the world's fastest growing insurance markets. Swiss Re expects global non-life premiums to rise, led by the US, where the economy is strengthening.
July 17, 2018 Read More
  Brexit News-SF

Insurance Sector Responses Follow UK Government Brexit White Paper

The UK government's Brexit white paper further defines the United Kingdom's position surrounding its exit from the European Union. Regarding financial services, the white paper confirms that the United Kingdom will leave the EU Single Market, will no longer operate under the European Union's "passporting" regime, and will not adopt an equivalence regime.
July 16, 2018 Read More
  Article Photo for ICCIE Announcement 480x377

ICCIE Updates: CICA Partnership, New CE Guidelines, 17 New Designees

The International Center for Captive Insurance Education (ICCIE) is partnering with the Captive Insurance Companies Association (CICA) on a new career development program and has updated its continuing education (CE) guidelines for Associate in Captive Insurance designation graduates. ICCIE has also announced 17 new captive insurance designees.
July 13, 2018 Read More
  Hurricane from Space-SF

KBRA: Atlantic Hurricane Season Predictions Revised

Kroll Bond Rating Agency (KBRA) released a research report as two of the leading hurricane forecasters reduced their outlooks for the 2018 Atlantic hurricane season. The revised forecast from Colorado State University called for below average activity. AccuWeather also reduced its forecast, remaining more in line with historical averages.
July 13, 2018 Read More
  US House of Representatives 480x377

US House Passes International Insurance Standards Act of 2018

The US House of Representatives passed the International Insurance Standards Act of 2018 (H.R. 4537) on July 10, 2018. The legislation is intended to preserve the US state-based system of insurance regulation while giving Congress greater oversight of and transparency in international insurance standard-setting negotiations.
July 12, 2018 Read More
  Upward trend 2018-SF

Commercial Lines Market Continues To Harden, According to IVANS

IVANS has announced its second quarter 2018 "IVANS Index: Premium Renewal Rate Index" results. The outcomes showed a general uptick in premium renewal rate change across the commercial lines of business compared to first quarter 2018.
July 12, 2018 Read More