Market News

US property-casualty insurers' financial results were pressured by persistent weather-related losses in addition to the highest rate of inflation in 40 years and the second-costliest catastrophe event on record, according to a new report from A.M. Best. Pricing momentum property-casualty insurers achieved in 2021 carried over into 2022. Read More

Independent insurance company manager Strategic Risk Solutions has acquired a majority interest in Alpha Isle Services, a specialist medical-stop-loss claims administrator. AIS provides outsourced claims administration services to medical-stop-loss managing general underwriters as well as claims review and audit services to insurance companies. Read More

For many businesses, the far-flung supply chains that had become a critical element of operating models broke in the face of the COVID-19 pandemic. Since then, the Russia-Ukraine war and other geopolitical tensions—in addition to various other risks—have caused many businesses to take a fresh look at their supply chains. Read More

The District of Columbia licensed 5 new captive insurance companies during the first 2 months of 2023, according to the Captive Insurance Council of the District of Columbia (CIC-DC). That follows considerable captive growth in the domicile in 2022 when 25 captives were licensed in the District of Columbia. Read More

Despite the disruptions caused by the COVID-19 pandemic, the Russia-Ukraine war, and the resulting supply chain disruptions, global commercial property-casualty lines have delivered strong financial performance in recent years, according to a new report from McKinsey & Company. Yet the insurers are at an inflection point, the report says. Read More