Market News
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
McGriff Expands Captive Market Presence with ARR Acquisition
Insurance broker McGriff Insurance Services, LLC, has acquired Alternative Risk Resources (ARR), a Wisconsin-based commercial brokerage specializing in captive insurance. McGriff said the acquisition expands its presence in the captive insurance market with a firm that has been active in the captive industry for more than 25 years. Read More
September "CICR" Looks at Captive Solution for Energy Industry
Don't miss the September issue of Captive Insurance Company Reports (CICR), which takes a look at how captive insurance can be used to solve the problem of financing the cost of capping nonproductive oil and gas wells. Read More
US, Bermuda Reinsurers Saw Underwriting Results Improve in 2022
While their overall profitability deteriorated, US and Bermuda reinsurers collectively reported improved underwriting results in 2022, according to A.M. Best. Best said its composite of 21 reinsurance groups domiciled in the US or Bermuda experienced net premium growth of 16 percent in 2022. Read More