Market News
Insurance-Linked Securities Market Could Be Set for Significant Growth
The insurance-linked securities (ILS) market appears poised to set another single-year issuance record this year and could be set for significant expansion, according to Fitch Ratings. Fitch said it views the ILS sector as strong and viable and investors remain committed to the market. Read More
As Cyber Losses Mount, Cyber-Insurance Market Challenges Grow
Conditions in the cyber-insurance market during the first half of 2021 were even more challenging than many anticipated, a recent report says. According to the midyear 2021 "Global Cyber Market Update" from Arthur J. Gallagher & Co., the year has exceeded expectations for a turbulent and difficult cyber market. Read More
US Surplus Lines Insurers' 2020 Premium Growth Was Largest Since 2003
The US surplus lines market's 17.5 percent direct premium growth was its largest year-over-year premium increase since 2003, according to A.M. Best. Best’s Report, "Expanding Opportunities Boost Surplus Lines Growth and Spur Operating Profits," says 2020's increase in direct written premiums follows 11.2 percent growth in 2018 and 2019. Read More
US Property and Casualty Insurers' Second-Half Profits Likely To Slow
While US property and casualty insurers' statutory earnings improved materially during the first half of 2021, that profit expansion is expected to slow during the year's second half, according to Fitch Ratings. The industry's second-half profits will be limited by losses from recent natural catastrophes and deteriorating personal auto results. Read More
Pace of Captive Insurance Company Formations Continues To Accelerate
With hardening conditions in the traditional market showing no sign of easing, captive insurance company formations are continuing to increase, with growth expected in 2022 as well. Captive insurance is seen as a valuable option as commercial market prices increase, conditions tighten, and some capacity is reduced. Read More