Market News

Organizations Are Making ERM Progress, but There's Work To Be Done

March 13, 2023

As business risks grow more complex, many risk leaders are taking too narrow a view of the systemic risks facing their organizations, a new examination of businesses' enterprise risk management (ERM) progress suggests. Fewer than a third of risk leaders surveyed completely agreed that businesse risks can come from anywhere. Read More

Premia Holdings Joins ABIR, CEO Bill O'Farrell Appointed to ABIR Board

March 10, 2023

Premia Holdings Ltd., a global acquirer and reinsurer of run-off portfolios, has joined the Association of Bermuda Insurers and Reinsurers (ABIR). Bill O'Farrell, Premia's CEO, has been appointed to the ABIR board. The ABIR now has 30 member insurers and reinsurers, as well as 4 intermediaries. Read More

Weather Losses, Inflation Pressured Property-Casualty Results in 2022

March 9, 2023

US property-casualty insurers' financial results were pressured by persistent weather-related losses in addition to the highest rate of inflation in 40 years and the second-costliest catastrophe event on record, according to a new report from A.M. Best. Pricing momentum property-casualty insurers achieved in 2021 carried over into 2022. Read More

Strategic Risk Solutions Acquires Interest in Alpha Isle Services

March 7, 2023

Independent insurance company manager Strategic Risk Solutions has acquired a majority interest in Alpha Isle Services, a specialist medical-stop-loss claims administrator. AIS provides outsourced claims administration services to medical-stop-loss managing general underwriters as well as claims review and audit services to insurance companies. Read More

Pandemic Disruptions Lead Businesses To Reduce Supply Chain Risks

March 6, 2023

For many businesses, the far-flung supply chains that had become a critical element of operating models broke in the face of the COVID-19 pandemic. Since then, the Russia-Ukraine war and other geopolitical tensions—in addition to various other risks—have caused many businesses to take a fresh look at their supply chains. Read More