Market News

Using Captives To Manage Supply Chain and Business Interruption Risks

January 25, 2023

As many businesses saw their supply chains become more far-flung over the past 2 decades, recent events have highlighted supply chain vulnerabilities. As businesses look to address supply chain and business interruption exposures, captive insurance can play a valuable part in those efforts. Read More

Bermuda (Re)insurers Anticipate Improved Underwriting Performance

January 24, 2023

Bermuda (re)insurers expect to experience improved underwriting performance in 2023 as a result of accelerating premium rates with a market reset in pricing, terms, and conditions, according to Fitch Ratings. Those underwriting performance improvements are expected to occur despite heightened catastrophe losses, inflation, and economic uncertainties, the rating agency said. Read More

Montana Added 46 New Captive Insurance Companies in 2022

January 24, 2023

Montana licensed 46 new captive insurance companies in 2022, boosting the domicile's total captive count to 268. Montana officials expect captive formations to remain strong in the state in 2023 and have already licensed six new captives this year. Read More

Stress Testing Finds Bermuda Insurers Resilient to Adverse Events

January 23, 2023

Bermuda insurers saw both their gross loss exposure and gross potential loss value grow in 2021, according to a review by the Bermuda Monetary Authority (BMA). The BMA said that the gross loss exposure assumed by Bermuda insurers increased 8.03 percent in 2021 to $225.02 billion from $208.29 billion in 2020. Read More

January Renewals Seen Ushering in New Reality for Reinsurance Buyers

January 20, 2023

January renewals marked a turning point for the reinsurance market and the beginning of a new reality for reinsurance buyers, according to Aon. An Aon report called January renewals the most challenging in a generation with a fundamental shift in the reinsurance market's pricing and risk appetite. Read More