Market News
Despite Relief in Some Lines, Hard Insurance Market Isn't over Yet
The second half of 2022 has offered commercial insurance buyers some relief in terms of improved market conditions, coverage, and capacity for many lines of business, according to Willis Towers Watson. Still, commercial property remains a significant holdout from that market improvement. Learn More
US P&C Industry Posts $24.3 Billion Underwriting Loss through Q3
The US property-casualty insurance industry recorded a $24.3 billion net underwriting loss during the first 9 months of 2022, according to A.M. Best. The loss through this year's first 3 quarters nearly quadruples the loss the US property-casualty industry recorded over the same period in 2021, Best said. Learn More
Uncertainty Aside, Global Reinsurance Sector's Outlook Remains Stable
Despite uncertain market conditions and such negative factors as rising natural catastrophe losses and ongoing inflation, A.M. Best has maintained its stable outlook for the global reinsurance sector. The positive factors reinsurers are experiencing are ultimately offset by negative ones, Best said. Read More
US Property-Casualty Reinsurer Premium Growth Continued through Q3
A group of 17 US property-casualty reinsurers wrote $64.0 billion of net premiums during the first 3 quarters of 2022, up from $57.3 billion over the same period last year, according to the Reinsurance Association of America (RAA). The RAA data is based on the reinsurers' statutory underwriting results. Read More
BMA Report Highlights Bermuda Captives' Relevance, Stability
A recently released report from the Bermuda Monetary Authority (BMA) underscores the continued relevance and stability of Bermuda's captive market as it addresses uncertainty associated with such events as the COVID-19 pandemic. The BMA report is based on 2020 year-end statutory financial returns submitted by Bermuda general business captive insurers. Read More
Collaboration Aims To Provide Digital Commercial Insurance Platform
Willis Towers Watson (WTW) and insurers Liberty Specialty Markets (LSM) and Markel are collaborating on the pilot phase of a digital commercial insurance platform. Using globally recognized data standards, the new platform is designed to enable multiple insurers and brokers to trade complex specialty risks in real time. Read More
Major European Reinsurers Saw Earnings Decline through 3rd Quarter
The earnings of four major European reinsurers fell through the first three quarters of 2022 compared to the same period last year due to higher catastrophe losses, weaker investment returns, and reserve strengthening, according to Fitch Ratings. Fitch has maintained its "neutral" fundamental sector outlook for global reinsurance. Read More