Market News
Pace of Global Insurance Price Increases Continued To Slow in Q3
Global commercial insurance prices increased 6 percent in the third quarter of this year, though the pace of those price increases slowed for the seventh consecutive quarter, according to the "Marsh Global Insurance Market Index." The third quarter also was the 20th consecutive in which composite pricing rose. Read More
S&P Revises US P&C Insurance Sector Outlook to Negative
S&P Global Ratings has revised its view on the US property and casualty (P&C) insurance sector to negative from stable, reflecting the rating agency’s expectation of wider credit trends over the next 12 months. S&P described rating activity in the US P&C sector as “muted” so far this year. Read More
Climate Change Emerges as Top Concern in 2022 Future Risks Report
For the first time, climate change stands as the top risk cited by experts surveyed for an annual report about the risks they see as most troubling. Climate change is the top risk among experts surveyed in all regions of the world in this year's "AXA Future Risks Report 2022." Read More
US Cyber-Insurance Premiums Grew 61 Percent to $6.5 Billion in 2021
Cyber insurers generated approximately $6.5 billion in premiums in the United States in 2021, a 61 percent increase from the prior year, according to the National Association of Insurance Commissioners (NAIC). Insurers writing stand-alone cyber-insurance coverage reported approximately $4.5 billion direct written premiums in 2021, the NAIC said. Read More
Guernsey Marks 100 Years of Captive Insurance with London Celebration
Guernsey recently marked 100 years of captive insurance in the domicile with a celebration in London hosted by Guernsey Finance and the Guernsey International Insurance Association. The first captive was registered in Guernsey in June 1922 by Commercial Insurance Company Limited (CICL). Read More