Market News

Reinsurance rate increases are likely to continue at January 2022 renewals, though at reduced levels, according to a recent report from Fitch Ratings. Rate increases at January 2022 renewals should be at high single-digit, low double-digit levels, the rating agency said. Read More

The US property and casualty insurance industry's net income grew 28 percent during the first half of 2021 compared to the same period last year, according to a new report from A.M. Best. The industry's combined ratio improved 0.8 percentage points year over year to 96.9 percent. Read More

A group of 17 US property and casualty reinsurers wrote $37.1 billion in net premiums during the first half of 2021, an increase from $32.1 billion written during the same period of 2020, according to a survey of the reinsurers’ statutory underwriting results conducted by the Reinsurance Association of America. Read More

Commercial property-casualty insurance premiums increased for the 15th consecutive quarter during the second quarter of 2021, according to The Council of Insurance Agents & Brokers' (CIAB) "Commercial Property/Casualty Market Report Q2 2021." Cyber insurance recorded the highest premium increase of all lines at 25.5 percent. Read More

Bermuda-licensed reinsurers paid out more in losses to US policyholders and cedents over the last 5 years than in an earlier 20-year period, according to new findings released August 23 by the Bermuda Monetary Authority. From 2016 to 2020, Bermuda reinsurers paid out $209.6 billion to US policyholders. Read More