Market News
Workers Compensation Performance Expected To Remain Strong in 2021
Workers compensation underwriting performance is expected to remain strong this year with favorable results driven by recent reductions in claims frequency and further recognition of material reserve redundancies, according to Fitch Ratings. The current level of profitability is unsustainable over the longer term, however. Read More
Hardening Market, Regulatory Changes Driving GCC Captive Interest
The hardening commercial insurance market and regulatory developments are driving interest in captive insurance in Gulf Cooperation Council (GCC) countries, according to A.M. Best. Multiple potential captive parents in the region are conducting feasibility assessments or seeking regulatory approval, according to a new Best market segment report. Read More
Risk Retention Groups Post Strong First-Quarter Results, Report Finds
Risk retention groups reported excellent financial results for the first quarter of 2021, according to a new report. The report by Demotech Inc. found RRGs' cash and invested assets jumped 14.1 percent in the first quarter of 2021 from the first quarter of 2020. Read More
Survey Finds Insurance Price Increases Moderated during First Quarter
Aggregate US commercial insurance prices increased just less than 8 percent during the first quarter of this year compared to the same period in 2020, according to Willis Towers Watson's Commercial Lines Insurance Pricing Survey. Nearly all coverage lines showed significant price increases in the first quarter. Read More
Uncertainty, Catastrophe Losses Likely To Harden Markets into 2022
Hardening in the reinsurance market will likely continue through 2022, as reinsurers respond to heightened uncertainty from social inflation, catastrophe losses, and claims related to the COVID-19 pandemic, according to a recent report from Swiss Re Institute. Tighter capacity is largely the result of reinsurers’ reduced risk appetite. Read More