Market News

In a year marked by uncertainty, the role of captive insurance in organizations' risk management efforts continued to grow in 2023. With no sign of the hard market easing for at least another year (or two), captives provide a way to reduce costs while exerting greater control over challenging risks. Read More

In a recent webinar, independent captive manager Strategic Risk Solutions (SRS) said captive insurance experienced a remarkable year marked by significant growth and increased interest. SRS highlighted the surge in new captive formations, the evolving landscape of captive domiciles, and the shifting dynamics in response to market challenges. Read More

While the property-casualty segment should generate modestly better underwriting results and profits in 2024, it faces ongoing risk from catastrophe exposures and loss-cost uncertainty in many segments. Fitch said that underwriting performance remains "widely divergent" between the personal lines and commercial lines sectors. Read More

A draft of Vermont's 2024 captive insurance bill is taking shape, offering a number of potential revisions to the state's existing captive law, Vermont Captive Insurance Association President Kevin Mead said in a recent blog post. Read More

After a difficult 2023, US property-casualty insurers should see modest improvement in their results in 2024, according to Fitch Ratings. In its 2024 sector outlook report, Fitch said that a recovery in the personal auto line will contribute to statutory profit improvements for US property-casualty insurers. Read More