Market News
Connecticut Crumbling Foundations Captive Reaches Major Milestone
The captive insurance company formed to respond to the crumbling foundations property insurance crisis in Connecticut has successfully placed more than 500 families back into homes with safe and secure foundations in less than 36 months, according to Michael Maglaras, principal of Michael Maglaras & Company. Read More
Ukraine Invasion Seen Having Significant Insurance Industry Impact
Russia's invasion of Ukraine will likely have a substantial impact on the global insurance industry in the near to middle terms, particularly given the fallout in the capital markets and the potential for widespread cyber attacks, according to A.M. Best. The invasion has had an immediate negative impact on stock markets. Read More
Pandemic Adds to Insurance Industry's Value Creation Challenges
Prior to the onset of the COVID-19 pandemic in 2020, the insurance industry already faced numerous challenges. Now, according to a new report, those challenges have taken on greater urgency. Among those challenges are several factors hindering revenue growth, according to the report from McKinsey & Company. Read More
Delaware Licensed 70 New Captives in 2021, Matching 2020's Growth
Delaware continues to enjoy strong captive growth, with the domicile licensing 70 new captive insurance companies in 2021, the same number of formations as in 2020. Delaware regulators indicated they expect that captive growth to be even greater this year. Read More
Despite Losses, US Property-Casualty Insurers Added to Surplus in 2021
While A.M. Best is anticipating a 2021 underwriting loss for the US property-casualty insurance industry, the rating agency said insurers' solid risk-adjusted capitalization and persistent underwriting and pricing discipline allowed the industry to limit losses and generate surplus growth. Read More