Market News

Alabama Legislation Expected To Spur State's Captive Industry Growth

April 9, 2021

Legislation recently approved by Alabama lawmakers and on its way to Gov. Kay Ivey for her signature makes a variety of changes affecting captive insurance companies. Under SB 23, minimum capitalization requirements for pure captive insurance companies and protected cell captives would be reduced to $100,000 from $250,000. Read More


2020 Catastrophe Experience Shows Growing Risk of Secondary Perils

April 7, 2021

With the COVID-19 pandemic and a high level of natural disasters, 2020 was a year that strained business, society, and the insurance industry. In a recently released sigma report, Swiss Re noted that 2020's $202 billion in global economic losses from catastrophes was the ninth highest for single-year economic losses. Read More


Firm Pricing the Norm at April 1 International Reinsurance Renewals

April 7, 2021

April 1 international reinsurance renewals were consistent with earlier trends as pricing remained firm in virtually all classes and territories, according to Willis Re. The intermediary said reinsurance capacity was adequate across the board, and there were no substantive changes in negotiations over exclusionary language. Read More


Nevada Captive Bill Would Expand Commissioner's Review Authority

April 6, 2021

The Nevada insurance commissioner would be given new authority to review the qualifications of a captive insurer's manager and, if appropriate, disqualify the manager or suspend or revoke the captive's license under A.B. 45, legislation now under consideration by state lawmakers. Read More


A.M. Best Assigns Stable Market Segment Outlook to London Market

April 1, 2021

A.M. Best has assigned a stable market segment outlook to the London insurance and reinsurance market. Key factors supporting the outlook included upward premium rate momentum, which is expected to support better underlying performance, greater consistency and clarity of policy wordings, and the ongoing modernization of the market. Read More