Market News

The US property-casualty insurance industry recorded a $4.1 billion net underwriting loss in 2021 as a result of increased losses and expenses, according to A.M. Best. Despite the 2021 underwriting loss, US property-casualty insurers were still able to increase their net income year over year by 4.5 percent. Read More

For the first time in several years, the total number of captive insurance companies worldwide increased in 2021, Business Insurance magazine reports. Last year, there were 5,985 captives worldwide, up from 5,879 in 2020, Business Insurance found. The last time the number of captives worldwide increased was in 2015. Read More

Year over year, nearly all commercial insurance lines except workers compensation experienced increases in average premium renewal rate in February, according to the IVANS Index, a regular premium renewal rate index compiled by the IVANS insurance exchange service. Read More

A survey of reinsurers' statutory underwriting results conducted by the Reinsurance Association of America (RAA) showed a group of 17 US property-casualty reinsurers wrote $74.6 billion in net premiums over the 12 months ending December 31, 2021.The group of reinsurers wrote $65.1 billion in net premium in 2020. Read More

While rate increases have led to premium growth for US directors and officers (D&O) insurers, their loss ratios have yet to show improvement, according to A.M. Best. Though premium has risen by an average of 15 percent over the last six quarters, insurers' direct loss ratio has worsened. Read More