Industry News

  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
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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
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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
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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
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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
  Energy Industry

Vermont To House New Captive Insurance Solution for Energy Sector

A new Vermont-domiciled captive insurance solution is available. The captive, eCaptiv LLC, will be funded through client participation and will provide auto liability, general liability, excess liability, and workers compensation coverages. The program will also offer "significant" excess reinsurance above captive retentions.
September 04, 2018 Read More
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Judging Environmental, Social, and Governance Factors in Credit Rating

There has been a shift in investor expectations in recent years, with shareholders judging companies on a broader spectrum of criteria, rather than solely on financial metrics, according to a new briefing by A.M. Best.
August 31, 2018 Read More
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Atlas Insurance Management Continues To Equip NCCIA Board

At the North Carolina Captive Insurance Association (NCCIA) conference, Martin Eveleigh, chairman of Atlas Insurance Management, received the Distinguished Service Award. As Mr. Eveleigh departs the NCCIA board of directors, Morgan Weatherly, a senior account manager at Atlas, will take up a position on the board beginning January 1, 2019.
August 30, 2018 Read More
  Emerging Leaders Summit

Elevate Your Career at the Emerging Leaders Summit

The fast-approaching Emerging Leaders Summit offers a forum where risk and insurance leaders can gain the expertise that they need to secure long-term industry success. Attend interactive sessions that are focused on a blend of technical education and professional development to become the "go-to" person in your company.
August 30, 2018 Read More
  CICR Image-SF

September "CICR" Focuses on Risk Retention Groups

Don't miss the September issue of "Captive Insurance Company Reports (CICR)," where R.H. "Skip" Myers Jr., a prominent risk retention group (RRG) attorney and general counsel of the National Risk Retention Association, discusses the continued relevance and strength of RRGs.
August 29, 2018 Read More
  Semi-Truck

Verisk and Omnitracs Provide Telematics Solutions for Trucking

Analytics provider Verisk has aligned with Omnitracs, LLC, a telematics service provider of large-fleet management and trucking solutions to transportation and logistics companies. Through the alliance, fleet owners can transfer driving data collected by their Omnitracs telematics platform into the Verisk Data Exchange to obtain safety feedback through focused analytics.
August 28, 2018 Read More
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RAA Reports 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 $30.1 billion of net premiums during the 6 months ended June 30, 2018, compared to $22.5 billion for the same period in 2017.
August 24, 2018 Read More
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129 Country Risk Assessment Reports Released by A.M. Best

Country Risk Assessment Reports providing economic, political, and financial system risk assessments on 129 countries were released by A.M. Best. A.M. Best determines country risk levels by assessing country-specific factors that could adversely affect an insurer's ability to meet its financial obligations. Country risk is evaluated and factored into all A.M. Best ratings.
August 23, 2018 Read More
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Strategic Risk Solutions Plants Roots in North Carolina

Dana Williams has joined captive management firm Strategic Risk Solutions (SRS) as its regional manager for North Carolina and Ohio. Ms. Williams will be based in a new SRS office in the Charlotte, North Carolina, area. The new office marks the firm's first permanent presence in North Carolina.
August 22, 2018 Read More
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A.M. Best Examines California Wildfires: The New Normal?

As housing development has ramped up in more rural areas and wildlands in California, the resulting wildfire threat for insurers has continued to grow. For homeowners and farmowners writers in California, direct losses incurred nearly quadrupled to $16.0 billion in 2017, compared with $4.2 billion in 2016.
August 21, 2018 Read More
  Survey Results-SF

Lloyd's Agencies: ILS Will Widen To Cover More Risks, Including Cyber

A survey by the Lloyd's Market Association of Lloyd's managing agents found that 80 percent of Lloyd's agencies want insurance-linked securities (ILS) as a permanent re/insurance market fixture. Of those surveyed, 100 percent believe ILS transactions will widen to cover more risks, including cyber and legacy business.
August 20, 2018 Read More