With medical professional liability insurance premiums high and coverage limits being lowered, captive insurance can provide a valuable solution. Among other things, captives allow their owners access to reinsurance markets, providing some peace of mind about the impact of excessive verdicts.
Artex will rebrand the names of all of its cell captive facilities to Artex Axcell over the next several months. An Artex statement said that the new name, Artex Axcell, is derived from the words "accelerate" and "cell" and represents a united global approach to the company's clients.
On the heels of a record-breaking first 6 months of 2023, the year's third quarter was a quiet period for the catastrophe bond and insurance-linked securities (ILS) market, with just $549 million in new risk capital brought to market, according to Artemis.
The global insurance market continued to moderate during this year’s third quarter as insurers looked to balance growth with profitability, according to a new report from Aon. Still, the market saw divergent conditions continuing for favored versus challenged risks, Aon says.
Lower natural catastrophe losses, improved investment results, and strong revenue growth in property-casualty reinsurance led to strong increases in the four main European reinsurers' earnings over the first three quarters of 2023 versus the same period last year, according to Fitch Ratings.