Market News

As Rates Harden, Global Reinsurers Should See Modest Profits in 2021

April 20, 2021

Fitch Ratings said it expects global reinsurers to post modest underwriting profits in 2021 as increases in reinsurance rates across almost all lines are expected to outpace loss-cost inflation. Fitch said this year's catastrophic events have pushed prices even higher in an already hardening market. Read More

Global Reinsurance Capital Grew 7 Percent in 2020, Willis Re Finds

April 19, 2021

Total capital dedicated to the global reinsurance industry grew 7 percent in 2020 to $658 billion, according to Willis Re. The increase was driven primarily by strong investment market appreciation. New capital raised added to the total, but capital returns to shareholders exceeded those new investments. Read More

Increased Captive Use Includes Spread to New Markets, Report Finds

April 16, 2021

As companies increase their use of captive insurance due to the hardening commercial market, captive insurance use is spreading from advanced markets to Asia and Latin America, according to a new report from the Swiss Re Institute. Meanwhile, in advanced markets, midsized companies are increasingly using new captive business models. Read More

Most Commercial Lines Saw Premium Increases during First Quarter

April 16, 2021

Nearly all major commercial insurance lines experienced quarter-over-quarter premium renewal rate increases during the first quarter of 2021, according to the January IVANS Index, a regular premium renewal rate index compiled by the IVANS insurance exchange service. Read More

Delaware Legislation Would Ease Captive Dormancy Requirements

April 12, 2021

Legislation passed recently in Delaware would reduce the length of time captive insurance companies would have to be inactive to file for dormancy. Under the measure, S. 1, captive insurance companies could go into dormancy if they were inactive for 12 consecutive months instead of the currently required calendar year. Read More