Market News
Hard Commercial Market Conditions Continue Driving Captive Formations
With hard market conditions continuing in the traditional insurance market, captive domicile regulators say new captive insurance company formations remain at a high level. As businesses look to captives to meet their coverage needs, new captives are forming and owners of existing captives are putting additional risks in the vehicles. Read More
Lloyd's Market Experiences Measurable Performance Improvements
The Lloyd's market is experiencing marked improvements in its underlying performance while it continues to outperform the US and Bermudian reinsurance market and the four major European reinsurers in terms of loss experience, according to A.M. Best. Read More
Innovation Spurred by Pandemic Persists Among Insurers, Reinsurers
The COVID-19 pandemic not only changed the way we live and work, it forced insurers and reinsurers to change many of the ways they do business, creating new incentives and rewards for innovation, according to A.M. Best. Insurers and reinsurers continue to pursue opportunities in digitization and product innovation. Read More
Most Commercial Lines Continued To See Premium Increases in August
Most major commercial insurance lines experienced both year-over-year and month-over-month increases in their average premium renewal rates in August, according to the "Ivans Index," a regular premium renewal rate index compiled by the Ivans insurance exchange service. Workers compensation was the only line experiencing premium decreases. Read More
Reinsurance Remains Essential to Cyber-Insurance Market's Growth
After 2 years of rate increases and tightening of terms and conditions, the global cyber-insurance market has returned to profitability, according to S&P Global Ratings. But reinsurance remains essential to primary cyber insurers and reinsurance is critical to the cyber market's sustainable growth, S&P says. Read More