Market News

Fitch Lowers Global Reinsurance, London Market Outlooks to Neutral

April 25, 2022

Fitch Ratings has lowered its outlooks for global reinsurance and the London market sector to neutral from improving, reflecting growing risks from rising claims inflation, financial market volatility, and weakening price momentum. Fitch said that the Russia-Ukraine war has exacerbated some negative economic trends affecting the reinsurance and London markets. Read More

Cyber Attacks, Data Loss Seen as Top Risks Facing Company Directors

April 22, 2022

Cyber attacks and data loss are seen as the top risks facing organizations' directors and officers, with cyber extortion and the increase in ransomware attacks a top concern, a recent survey found. Cyber extortion was identified as a very significant or extremely significant risk by 59 percent of those surveyed. Read More

Bermuda Captives' Cyber-Insurance Premiums Jumped 42 Percent in 2020

April 21, 2022

Gross cyber-insurance premiums written in Bermuda-domiciled captive insurance companies increased approximately 42 percent in 2020, according to a recent report from the Bermuda Monetary Authority (BMA). Meanwhile, the number of Bermuda captives writing cyber insurance increased from 20 to 23 in 2020, the BMA said. Read More

Report Says April 1 Reinsurance Renewals Demonstrated "Orderly Calm"

April 20, 2022

After further strengthening their financial positions with continued improvements in terms and conditions at January 1 renewals, reinsurers approached April 1 renewals with many still seeking top-line revenue growth, according to a recent report from Gallagher Re. The report describes the April 1 reinsurance renewals as demonstrating an "orderly calm." Read More

Group of Property-Casualty Insurers Saw Net Income Double in 2021

April 19, 2022

Publicly traded US property-casualty insurers’ net income more than doubled in 2021 to $133.9 billion despite weather-related catastrophes, investment volatility, and the ongoing economic fallout from the COVID-19 pandemic, according to A.M. Best. Best said that publicly traded US property-casualty insurers posted gains in all major revenue and income measures. Read More