Market News
Utah Licensed 57 Captives in 2022 as Activity Level Remained High
New captive insurance company formations in Utah continue to be high, with the state licensing 57 captive insurers in 2022, boosting the domicile's captive count to 419. Utah licensed 52 captive insurance companies in 2021 and 39 in 2020. Read More
January Renewals Seen Ushering in New Reality for Reinsurance Buyers
January renewals marked a turning point for the reinsurance market and the beginning of a new reality for reinsurance buyers, according to Aon. An Aon report called January renewals the most challenging in a generation with a fundamental shift in the reinsurance market's pricing and risk appetite. Read More
Vermont Licensed 41 Captives in 2022 as Captive Count Grew to 639
Vermont licensed 41 new captive insurance companies in 2022, bringing the domicile's total number of captives to 639, up from 620 in 2021. The 41 new captive formations in 2022 made it Vermont's sixth-highest year of growth in its 41-year history as a captive insurance domicile. Read More
Pricing, Loss Severity Uncertainty Pose Workers Compensation Concerns
US workers compensation insurers' results will continue to benefit from a long-term trend of claims frequency improvement due to improved safety and risk management practices along with the recognition of loss reserve redundancies from prior underwriting years, according to Fitch Ratings. Read More
Cyber, Business Interruption Top Risks in "Allianz Risk Barometer 2023"
Cyber incidents and business interruption ranked at the top of businesses' top risk concerns in the "Allianz Risk Barometer 2023" from insurer Allianz Global Corporate & Specialty. The top two risks in this year's "Allianz Risk Barometer" held the same spots in the 2022 report. Read More