Market News
Property-Casualty Industry Reserves Were Largely Unchanged in 2021
An annual study of the property-casualty insurance industry's loss reserves found little change in the industry's overall reserve position from 2020 to 2021. However, the study by Conning did find changes in reserve levels by lines of business. Read More
Bermuda Insurers, Reinsurers Posted Healthy Premium Growth in 2021
Association of Bermuda Insurers and Reinsurers (ABIR) member companies posted a 21 percent year-over-year increase in net premiums written in 2021, according to the ABIR. The ABIR's global underwriting report is based on data from 25 of 29 member insurers and reinsurers for the 2021 calendar year. Read More
Sharply Rising Premiums Should Boost Cyber Insurers' Performance
The cyber-insurance market continues to expand as premiums rise sharply and insurers remain committed to the market, despite their loss experience due to rising claims, according to Fitch Ratings. Cyber insurers' performance will likely rebound, Fitch said, given the price increases along with tighter underwriting standards. Read More
Groups' Analysis Finds Man-Made Causes Fuel Property Insurance Crises
While weather-related disasters are becoming more frequent and more costly, the crises in some property insurance markets are being fueled largely by man-made causes, a new report from a group of insurance industry trade associations suggests. Many states' property insurance markets are showing signs of stress, according to the report. Read More
(Re)Insurers See First-Half Premium Growth, Solid Underwriting Results
Global insurers and reinsurers enjoyed average premium growth of 12 percent during this year’s first half as well as favorable underwriting results, according to Gallagher Re. Gallagher Re said the group's premium growth was supported by continued favorable pricing for commercial lines and reinsurance business. Read More