Market News
Fitch Says Reinsurance Market Saw "Mixed Results" at January Renewals
The reinsurance market showed "mixed results" at January renewals, with only loss-affected lines of business showing significant price increases, according to Fitch Ratings. Fitch cited property catastrophe, cyber, and retrocession as among the lines seeing significant increases at January renewals. Read More
Threats Feared Early in the Pandemic Have Become Reality, Report Finds
Risks that were feared a year ago as potential knock-on effects of the COVID-19 pandemic have emerged since as "clear and present dangers," according to the World Economic Forum's "Global Risks Report 2022." In some cases, the emergence of those threats is impeding efforts to address other risks. Read More
Vermont's Captive Count Hits 620 with 45 New Captive Licenses in 2021
Vermont licensed 45 new captive insurance companies in 2021, boosting the state's total number of captives to 620, up from 589 in 2020. The 45 new captive formations in 2021 was Vermont's fourth-highest year of growth in its 40-year history as a captive insurance domicile. Read More
Bermuda Insurers, Reinsurers Set To Return to Underwriting Profitability
Bermuda insurers and reinsurers should show a return to underwriting profitability for 2021, with combined ratio improvements and premium increases more than offsetting increased catastrophe losses, Fitch Ratings said. Fitch said it expects insurance and reinsurance pricing to continue to rise but at a declining rate through midyear 2022 renewals. Read More
Join IRMI as a Captive and Risk Finance Product Manager
Join IRMI in our role of captive and risk finance product manager. Read More