Market News

The effects of the Russia-Ukraine conflict have demonstrated how interconnected our world and risks have become, showing the volatility that can be associated with conflict and how far its impacts can be felt, a new report suggests. The conflict will likely trigger significant changes in the world's future risk landscape. Read More

Global actuarial and consulting firm Milliman, Inc., has opened an office in Bermuda in response to increased demand for insurance consulting and technology support on the island. Milliman noted that it has long worked with companies operating in Bermuda as well as global clients with interests on the island. Read More

Average premium renewal rates for nearly all commercial insurance lines continued to experience year-over-year increases in July, according to the "IVANS Index," a regular premium renewal rate index compiled by the IVANS insurance exchange service. Workers compensation was the only commercial insurance line not to experience year-over-year increases during the month. Read More

The state of Tennessee has created a captive insurance company, the Tennessee Captive Insurance Company, to create savings and efficiencies in insuring state property. The Tennessee Captive Insurance Company will initially issue only property and cyber liability policies, but the state may add other lines of coverage in the future. Read More

Global InsurTech funding experienced a recovery during this year's second quarter, increasing 8 percent over the prior quarter to reach a total of $2.41 billion, according to the second-quarter 2022 "Gallagher Re Global InsurTech Report." The second quarter's growth was an improvement from the 58.0 percent first-quarter drop. Read More