Market News

Hawaii Adds to Captive Total, Licensing 21 New Captive Insurers in 2020

January 20, 2021

Captive growth continued in Hawaii in 2020 as the state licensed 21 new captive insurance companies during the year. After the dissolution of 9 captives, the new formations brought Hawaii's captive total to 242, making the state one of the largest US captive domiciles. Read More

Reinsurance Market Continued Hardening in January: Fitch Ratings

January 19, 2021

In its review of January reinsurance renewals, Fitch Ratings found that the reinsurance market continued hardening as pandemic-related claims, high natural catastrophe losses, and pressure on liability lines of business led to widespread price increases that often went beyond claims inflation. Read More

Lloyd's Forming Protected Cell Company To Ease Investor Access

January 19, 2021

Lloyd's of London has obtained regulatory approval to form a new protected cell company (PCC) intended to make it easier for investors to gain access to the Lloyd's market. The independently owned and managed London Bridge Risk PCC Limited was formed under the United Kingdom's PCC legislation. Read More

KBRA Maintains Stable Outlook for US Property-Casualty Industry

January 18, 2021

While 2020 saw a record North Atlantic hurricane season, Kroll Bond Rating Agency (KBRA) is maintaining a stable outlook for the US property-casualty insurance sector. KBRA noted that the US property-casualty industry achieved record levels of policyholder surplus at the end of 2019 and remains near those levels entering 2021. Read More

Cat Bonds, Insurance-Linked Securities Show Resilience to Challenges

January 18, 2021

Alternative sources of capital, including catastrophe bonds and other types of insurance-linked securities, have played a growing role in securing coverage for various exposures in recent years. Despite the impact of the COVID-19 pandemic and more frequent and severe natural catastrophes, the market continues to show resilience and growth. Read More