Market News
January Renewals Saw Bargaining Power Turning in Reinsurers' Favor
January reinsurance renewals saw reinsurers reaching a "tipping point" where their bargaining power versus that of reinsurance buyers moved in the reinsurers' favor, according to Fitch Ratings. Most significant was that property and specialty lines reinsurance entered a hard market, Fitch said. Read More
January "CICR" Looks at the Captive Insurance Industry in 2023
Don't miss the January issue of "Captive Insurance Company Reports" ("CICR"), in which captive insurance industry leaders offer their thoughts on what might be some of the most notable events, developments, and issues in the captive insurance world in the year ahead. Find out what they had to say. Read More
Despite Slow Q4, Cat Bond Market Topped 10-Year Average in 2022
While catastrophe (cat) bond issuance was below average in the fourth quarter of 2022, the year's issuance totaled $10.5 billion, above the 10-year average, according to the "Q4 2022 Catastrophe Bond & ILS Market Report" from Artemis. New issue volume in 2022 exceeded the 10-year average by approximately $700 million. Read More
Insurance Sector's Systemic Risk Is Moderate, Though Trending Higher
Though systemic risk in the global insurance sector is trending upwards, it remains moderate and is low relative to that of the banking sector, according to the December 2022 "Global Insurance Market Report" from the International Association of Insurance Supervisors. Read More
Rating Agency Sees US Property-Casualty Performance Improving in 2023
US property-casualty insurers should see their operating performance stabilize or improve modestly in 2023, according to Fitch Ratings. The rating agency said the improved performance will result from commercial and personal lines price increases, a reversion to historical average catastrophe losses, and higher investment yields. Read More