Market News

Risk Retention Groups Posted $570.3 Million in Net Income in 2021

May 19, 2022

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. Read More

Inflation, Litigation, Cyber Attacks Cited as Premium Increase Drivers

May 18, 2022

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. Read More

High Rates of Inflation Likely To Pressure Property-Casualty Insurers' Profitability

May 16, 2022

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. Read More

Global InsurTech Investments Continue at Robust Pace

May 11, 2022

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. Read More

Guernsey Finance, GIIA To Appoint an Insurance Business Representative

May 11, 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. Read More