Market News
Vermont Licensed 27 New Captives during First Half of 2022
As conditions continue to tighten in the traditional commercial insurance market, captive insurance formations are accelerating in Vermont, the largest US captive domicile. During the first 6 months of 2022, 27 new captives were licensed in Vermont, up from 23 during the same period in 2021. Read More
Cayman Islands Licensed 37 Captives in 2021, Bringing Total to 661
The Cayman Islands licensed 37 new captive insurance companies in 2021, while 28 captives surrendered their licenses during the year. At the end of 2021, the Cayman Islands had 661 captive insurance companies, up from 652 captives in 2020 and 646 in 2019. Read More
Analysis Finds 10 Claims Sources Responsible for 75 Percent of Losses
Approximately 75 percent of financial losses arise from the top 10 causes of loss, according to a recent analysis of global insurance claims. The "Global Claims Review 2022" from Allianz Global Corporate & Specialty said the top three causes are responsible for 45 percent of the loss value. Read More
KeyState Captive Management Moves into New Vermont Office
KeyState Captive Management, a major captive manager, has moved to a new office in Vermont. The company is now located at 30 Main Street in downtown Burlington. Currently, KeyState manages 8 Vermont-domiciled captives and a total of more than 100 captives in US domiciles. Read More
Premium Increases Continued Across Most Commercial Lines in Q2
Premium renewal rates increased year over year for most commercial insurance lines during the second quarter of 2022, according to the "Ivans Index," a regular premium renewal rate index compiled by the Ivans insurance exchange service. The only exception was workers compensation, which saw a year-over-year decrease in premium renewal rates. Read More