A recently published article suggests using a health insurance analogy to explain the workings of captive insurance to those unfamiliar with the concept. In their article, "Captive Insurance: The Health Insurance Analogy," Joel S. Chansky and Michael C. Meehan of Milliman, Inc., acknowledge that captive insurance is a narrow niche.
The Guernsey International Insurance Association has awarded its first environmental, social, and governance (ESG) accreditation for an insurance entity to Dunant Re IC Limited. Dunant Re IC is an incorporated cell of Replexus ICC (Guernsey) Limited, managed by Aon Insurance Managers (Guernsey).
Risk management consulting company Alternative Risk Strategies (ARS) has implemented a captive insurance arrangement for a large, vertically integrated cannabis company. As part of the arrangement, ARS successfully secured the placement of $10 million of directors and officers (D&O) captive insurance coverage through its ARS Captive Program.
The insurance-linked securities (ILS) market appears poised to set another single-year issuance record this year and could be set for significant expansion, according to Fitch Ratings. Fitch said it views the ILS sector as strong and viable and investors remain committed to the market.
Conditions in the cyber-insurance market during the first half of 2021 were even more challenging than many anticipated, a recent report says. According to the midyear 2021 "Global Cyber Market Update" from Arthur J. Gallagher & Co., the year has exceeded expectations for a turbulent and difficult cyber market.
The US surplus lines market's 17.5 percent direct premium growth was its largest year-over-year premium increase since 2003, according to A.M. Best. Best’s Report, "Expanding Opportunities Boost Surplus Lines Growth and Spur Operating Profits," says 2020's increase in direct written premiums follows 11.2 percent growth in 2018 and 2019.
While US property and casualty insurers' statutory earnings improved materially during the first half of 2021, that profit expansion is expected to slow during the year's second half, according to Fitch Ratings. The industry's second-half profits will be limited by losses from recent natural catastrophes and deteriorating personal auto results.