Market News
Led by Cyber, Commercial Insurance Prices Increased 8.7 Percent in Q4
Commercial property-casualty insurance premiums experienced their 17th consecutive quarter of increases during the final 3 months of 2021, according to the Council of Insurance Agents & Brokers' "Commercial Property/Casualty Market Index." The average premium increase across all account sizes during the fourth quarter was 8.7 percent. Read More
US Property-Casualty Insurers Post $4.1 Billion 2021 Underwriting Loss
The US property-casualty insurance industry recorded a $4.1 billion net underwriting loss in 2021 as a result of increased losses and expenses, according to A.M. Best. Despite the 2021 underwriting loss, US property-casualty insurers were still able to increase their net income year over year by 4.5 percent. Read More
Report Finds Worldwide Captive Total Increased to 5,985 in 2021
For the first time in several years, the total number of captive insurance companies worldwide increased in 2021, Business Insurance magazine reports. Last year, there were 5,985 captives worldwide, up from 5,879 in 2020, Business Insurance found. The last time the number of captives worldwide increased was in 2015. Read More
Monthly Premium Increases Slow for Most Commercial Lines in February
Year over year, nearly all commercial insurance lines except workers compensation experienced increases in average premium renewal rate in February, according to the IVANS Index, a regular premium renewal rate index compiled by the IVANS insurance exchange service. Read More
US Property-Casualty Reinsurers Report Net Premium Growth in 2021
A survey of reinsurers' statutory underwriting results conducted by the Reinsurance Association of America (RAA) showed a group of 17 US property-casualty reinsurers wrote $74.6 billion in net premiums over the 12 months ending December 31, 2021.The group of reinsurers wrote $65.1 billion in net premium in 2020. Read More