Market News

A group of 17 US property and casualty (P&C) reinsurers wrote $27.3 billion of net premiums during the first 3 months of this year, according to the Reinsurance Association of America (RAA). The reinsurers' first-quarter net premiums were up from $24.6 billion during the same period in 2022, according to the RAA. Read More

Slower revenue growth, inflation-based claims uncertainty, and less favorable loss reserve experience are challenging US commercial lines insurers, according to Fitch Ratings. Fitch projects the US commercial lines sector will post a combined ratio of 97–98 percent in 2023, up from 96 percent in 2022. Read More

Iowa lawmakers have passed and Governor Kim Reynolds has signed legislation to allow the formation of captive insurance companies in the state. Under the bill, SF 549, captives would have to submit an annual report to Iowa's Insurance Division by April 1. Read More

Despite recent capacity increases in the cyber (re)insurance market, attracting sufficient levels of capital remains the market's greatest challenge. According to a Gallagher Re white paper, "The Vital Role of Capital in Cyber (Re)insurance," despite those recent capacity increases, the amount of capital entering the cyber (re)insurance remains insufficient. Read More

The four major European reinsurers experienced stronger than expected improvements in their profits during this year's first quarter, according to Fitch Ratings. During the first quarter, the reinsurers experienced an average return on equity of 21 percent, up from 9 percent a year earlier, according to Fitch. Read More