Market News
Global InsurTech Funding Dropped in 2022 for First Time Since 2016
Global InsurTech funding fell during last year's fourth quarter to its lowest level since the first quarter of 2020, according to the fourth quarter 2022 "Gallagher Re Global InsurTech Report." Last year was the first year to see an overall drop in InsurTech investment since 2016, Gallagher Re says. Read More
Nearly All Commercial Insurance Lines Saw Premium Increases in January
Year over year, all lines of commercial insurance except workers compensation experienced increases in their premium renewal rate in January 2023, according to the "Ivans Index," a regular premium renewal rate index. Business owners policy and commercial property continued to see the highest premium renewal rate increases year over year. Read More
Hawaii Added 4 Captive Insurance Companies to Its Total in 2022
The number of captive insurance companies in Hawaii hit 255 at the end of 2022, up from 251 in 2021, the Hawaii Department of Commerce and Consumer Affairs, Insurance Division, Captive Branch reported in a new fact sheet. Of those 255 captives, 214 captive owners were in the United States. Read More
Recent Cyber-Risk ILS Deals May Lead to Expanded Reinsurance Capacity
Two recent insurance-linked securities (ILS) deals that saw (re)insurers transferring cyber risk to the capital markets demonstrate potential for a broader source of reinsurance for cyber exposures, according to Fitch Ratings. Fitch said the two recent cyber-risk ILS deals—by Beazley and Hannover Re—together transferred $145 million of cyber risk. Read More
Expecting Continued Cell Captive Growth, Innovation
Cell captives provide a simple, affordable approach for organizations considering using alternative risk financing strategies to address risks that may be costly or difficult to insure. A cell captive gives owners a strategic risk management tool that can be implemented in much less time than a single-parent captive. Read More