Market News
Airmic Updates Its Captive Governance Guide To Address Captive Changes
Responding to the increasing size and sophistication of captive insurance companies as well as the rapidly changing corporate and regulatory environment in which they operate, Airmic, the UK risk management association, has updated its Captive Governance Guide. The guide was originally published in 2019 in partnership with Aon plc. Read More
Guernsey Finance Names Kevin Boscher New Board Deputy Chairman
The board of directors of Guernsey Finance, the joint industry and government initiative created to promote Guernsey's financial services sector internationally, has appointed Kevin Boscher the board's new deputy chairman. Mr. Boscher is chief investment officer at investment services group Ravenscroft. Read More
US Property-Casualty Industry Posted $8.2 Billion Q1 Underwriting Loss
The US property-casualty insurance industry experienced an $8.2 billion net underwriting loss during the first quarter of this year, according to A.M. Best. During the same period in 2022, the US property-casualty industry posted a $3.4 billion gain, the rating agency said. Read More
Core Specialty Uses Acquisition To Form Medical Stop-Loss Division
Core Specialty Insurance Holdings, Inc., and its subsidiaries announced that it will form a medical stop-loss division through the acquisition of the managing general underwriter/stop-loss business of American National Group. Jim Stelling will join Core Specialty as president of the newly formed medical stop-loss division. Read More
Survey Finds Commercial Insurance Price Increases Accelerated in Q1
US commercial insurance prices continued to increase during the first quarter of this year, rising 5.6 percent, according to Willis Towers Watson's Commercial Lines Insurance Pricing Survey. The first quarter’s commercial insurance price increase was up from the 4.8 percent increase during the fourth quarter of 2022. Read More