Market News

S&P Global Ratings has revised its view on the US property and casualty (P&C) insurance sector to negative from stable, reflecting the rating agency’s expectation of wider credit trends over the next 12 months. S&P described rating activity in the US P&C sector as “muted” so far this year. Read More

For the first time, climate change stands as the top risk cited by experts surveyed for an annual report about the risks they see as most troubling. Climate change is the top risk among experts surveyed in all regions of the world in this year's "AXA Future Risks Report 2022." Read More

Cyber insurers generated approximately $6.5 billion in premiums in the United States in 2021, a 61 percent increase from the prior year, according to the National Association of Insurance Commissioners (NAIC). Insurers writing stand-alone cyber-insurance coverage reported approximately $4.5 billion direct written premiums in 2021, the NAIC said. Read More

Guernsey recently marked 100 years of captive insurance in the domicile with a celebration in London hosted by Guernsey Finance and the Guernsey International Insurance Association. The first captive was registered in Guernsey in June 1922 by Commercial Insurance Company Limited (CICL). Read More

The US workers compensation insurance segment has enjoyed stable profitability for several years, though inflation clouds the line's future, according to A.M. Best. Best noted that the annual underwriting profit in the US workers compensation line has averaged $4.8 billion over the last 5 years. Read More