Market News

AM Best's latest report shows US surplus lines premiums climbed 12.3 percent to nearly $130 billion in 2024, extending 7 years of double-digit growth. Market expansion was fueled by climate-driven homeowners' risks, new entrants, and demand for specialized coverage in areas such as cyber, artificial intelligence, parametric solutions, and cannabis. Read More

US property-casualty insurance companies reported record investment income of $89 billion in 2024, a 20 percent year-over-year increase boosted by the higher interest rate environment, according to AM Best. Best said the increase in property-casualty insurers' investment income was driven by high returns on bonds and cash and short-term investments. Read More

Several insurance industry organizations have approached Congress to urge the reauthorization of the Terrorism Risk Insurance Act (TRIA) federal terrorism insurance backstop. The US House Financial Services Subcommittee on Housing and Insurance held a hearing on the issue on September 17. Read More

A recent stress test shows Bermuda's long-term reinsurance sector demonstrating a strong ability to withstand severe economic challenges, according to the Bermuda Monetary Authority (BMA). The BMA said its "2025 Global Financial Stress Test—Long-Term Reinsurers" showed that the majority of companies maintain capital levels in excess of regulatory requirements. Read More

Lloyd's has announced the 12 companies that will join the 15th cohort of the market's Lloyd's Lab accelerator innovation hub. The latest cohort will have a strong focus on three strategic themes: "adapting to a changing world," "traditional lines for today," and "data intelligence and process transformation.” Read More