The US directors and officers (D&O) insurance market's 2021 results were the best the segment has experienced since 2014, according to A.M. Best. The rating agency noted that US D&O insurers experienced significant growth in both top-line premiums and profitability in 2021.
The four major European reinsurers—Munich Reinsurance Company, Swiss Reinsurance Company Ltd., Hannover Rueck SE, and SCOR SE—all reported a decline in profits during the first quarter of 2022 that varied widely due to company specifics, according to Fitch Ratings.
While nearly half of risk retention groups (RRGs) reported an underwriting loss in 2021, those losses for many RRGs were offset by investment gains, according to an analysis by Demotech Inc. With RRGs reporting a net investment gain of $657.8 million in 2021, their collective net income was $570.3 million.
Continuing increases in commercial insurance prices are largely the result of economic inflation, social inflation, and cyber attacks, according to a recent report from the American Property Casualty Insurance Association (APCIA). All three of those factors are outside of insurance companies' control, according to the report.
Property-casualty insurance companies are likely to face headwinds to their profitability due to persistent high rates of inflation, two new reports suggest. While the full impact of inflation on the global insurance industry has yet to be determined, higher inflation creates multiple challenges for insurance companies.
Global InsurTech funding dropped in the first quarter of the year from the record level it reached during the last 3 months of 2021, though it still stood at a robust $2.2 billion, according to the inaugural "Gallagher Re Global InsurTech Report" for Q1 2022.
Guernsey Finance and the Guernsey International Insurance Association (GIIA) are looking to appoint a dedicated business development representative for the insurance sector. The move would be a departure from the way Guernsey Finance typically partners with industry to promote Guernsey's financial services to the world.