Market News
Property Catastrophe Reinsurance Premium Increases Expected To Slow
Premium increases for property catastrophe reinsurance are likely to slow to below 10 percent on average at January 2024 renewals, according to Fitch Ratings. As a result, improvements in reinsurers' underwriting margins will be less significant than in 2023, the rating agency said. Read More
Government To Consult on Design of UK Captive Insurance Framework
The UK government has indicated it will consult on the design of a new framework for encouraging the establishment and growth of captive insurance companies in the United Kingdom. The government indicated it would begin consultation on the framework for a UK captive regime in the spring of 2024. Read More
Slower Economic Growth, Geopolitical Factors Cloud Insurance Outlook
An anticipated slowdown in global economic growth coupled with geopolitical uncertainty dampens the outlook for the primary insurance industry in 2024–2025, according to the Swiss Re Institute. Swiss Re forecasts global real premium growth at 2.2 percent annually on average for the next 2 years. Read More
Worried about Nuclear Malpractice Verdicts? Grab a Paddle.
With medical professional liability insurance premiums high and coverage limits being lowered, captive insurance can provide a valuable solution. Among other things, captives allow their owners access to reinsurance markets, providing some peace of mind about the impact of excessive verdicts. Read More
Artex Rebranding Its Cell Captive Facilities as Artex Axcell
Artex will rebrand the names of all of its cell captive facilities to Artex Axcell over the next several months. An Artex statement said that the new name, Artex Axcell, is derived from the words "accelerate" and "cell" and represents a united global approach to the company's clients. Read More