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  • Guernsey Spells Out ILS Collateral Rules for ILS Cells The Guernsey Financial Services Commission, a Guernsey regulator, has clarified the collateral rules surrounding the authorization process for insurance-linked securities (ILS) cells.
  • Swiss Re: Global Insured Loss Estimates Reflect Sigma's Fourth Highest Swiss Re's latest preliminary sigma estimates found that total economic losses from natural and man-made catastrophes in 2018 declined to $155 billion from $350 billion in 2017. Findings also showed that estimated global insured losses are currently around $79 billion, higher than the annual average for the previous 10 years.
  • EIOPA "Stress Test" Finds European Insurers Adequately Capitalized The "2018 Insurance Stress Test Report" on the European insurance sector was recently released by the European Insurance and Occupational Pensions Authority (EIOPA). The results revealed that, on aggregate, the sector is adequately capitalized to absorb the test's prescribed shocks.
  • 831(b) Captive Owners File Lawsuit Against Gallagher and Artex Arthur J. Gallagher & Co. and its captive management unit, Artex Risk Solutions Inc., are being sued by a group of small employers alleging they have had to pay back taxes and other penalties to the Internal Revenue Service, involving their participation in 831(b) captives.
  • IVANS: Commercial Lines Renewal Rates Reflect Variable Changes IVANS has announced the "IVANS Index: Premium Renewal Rate Index" November results. For the first time this year, rate changes are split evenly, with an uptick in premium renewal rate across businessowners policy, commercial property, and umbrella, while commercial auto, general liability, and workers compensation experienced a downward shift.
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  Guernsey Flag-SF

Guernsey Spells Out ILS Collateral Rules for ILS Cells

The Guernsey Financial Services Commission, a Guernsey regulator, has clarified the collateral rules surrounding the authorization process for insurance-linked securities (ILS) cells.
December 18, 2018 Read More
  Natural Disasters 480x377

Swiss Re: Global Insured Loss Estimates Reflect Sigma's Fourth Highest

Swiss Re's latest preliminary sigma estimates found that total economic losses from natural and man-made catastrophes in 2018 declined to $155 billion from $350 billion in 2017. Findings also showed that estimated global insured losses are currently around $79 billion, higher than the annual average for the previous 10 years.
December 18, 2018 Read More
  Stress Test-SF

EIOPA "Stress Test" Finds European Insurers Adequately Capitalized

The "2018 Insurance Stress Test Report" on the European insurance sector was recently released by the European Insurance and Occupational Pensions Authority (EIOPA). The results revealed that, on aggregate, the sector is adequately capitalized to absorb the test's prescribed shocks.
December 17, 2018 Read More
  Court Ruling Gavel

831(b) Captive Owners File Lawsuit Against Gallagher and Artex

Arthur J. Gallagher & Co. and its captive management unit, Artex Risk Solutions Inc., are being sued by a group of small employers alleging they have had to pay back taxes and other penalties to the Internal Revenue Service, involving their participation in 831(b) captives.
December 14, 2018 Read More
  Up and Down Graph 480x377

IVANS: Commercial Lines Renewal Rates Reflect Variable Changes

IVANS has announced the "IVANS Index: Premium Renewal Rate Index" November results. For the first time this year, rate changes are split evenly, with an uptick in premium renewal rate across businessowners policy, commercial property, and umbrella, while commercial auto, general liability, and workers compensation experienced a downward shift.
December 14, 2018 Read More
  Green "Stability" button on computer keyboard

Demotech Releases Third Quarter 2018 Financial Analysis of RRGs

Demotech has released its "Analysis of Risk Retention Groups—Third Quarter 2018," reporting on the overall financial performance of risk retention groups (RRGs). Douglas Powell, Demotech's senior financial analyst, has concluded that "RRGs have a great deal of financial stability and remain committed to maintaining adequate capital to handle losses."
December 13, 2018 Read More
  A Rating - SF

KBRA Assigns A Rating to Hamilton Re

Kroll Bond Rating Agency (KBRA) assigned an insurance financial strength rating of A to Hamilton Re, Ltd. (Hamilton Re), a Bermuda, Class 4 property-casualty reinsurer. KBRA also assigned an issuer rating of BBB+ to Hamilton Insurance Group, Ltd., the Bermuda-based holding company for Hamilton Re.
December 13, 2018 Read More
  Contract Pen Sign 480 x 377

R&Q Runoff Deal Set To Close on Reinsurance Corporation of America

Randall & Quilter Investment Holdings Limited (R&Q) is set to acquire GLOBAL US Holdings Incorporated, the parent company of Reinsurance Corporation of America, a New York-domiciled reinsurance company in runoff.
December 12, 2018 Read More
  Washington State 480x377

Captive Insurers Allowed 18 Months To Self-Report to Washington State

Washington State Insurance Commissioner, Mike Kreidler, has offered captive insurance companies that have "unlawfully" insured any risk in Washington State in the past 15 years the chance to pay a substantially reduced fine and premium tax penalty for self-reporting this activity.
December 11, 2018 Read More
  acquisition 480x377

Gallagher Acquires Chicago-Based Captive Insurance Consultant

Arthur J. Gallagher & Co. has acquired Chicago-based Captive Insurance Company Design and Operations, a captive consultant focused exclusively on medical and professional liability.
December 11, 2018 Read More
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