Market News
Hurricane Ian Disrupted Move to Property-Casualty Market Stabilization
The property-casualty insurance market appeared to be moving toward stabilization until September's Hurricane Ian arrived as a major event for both insurers and reinsurers. In a December Lockton Market Update, "Property Challenges Largely Stable Market," the broker notes that this year's Atlantic hurricane season was the third most expensive. Read More
Risk Retention Groups Saw Steep Premium Growth through 3 Quarters
Risk retention groups (RRGs) reported sharp increases in premium volume for the third quarter of 2022, according to a new report. The report by Demotech Inc. said RRGs reported nearly $4.2 billion in direct premium written through the third quarter, up 60 percent from the same period in 2021. Read More
Survey Finds Commercial Insurance Price Increase Moderation Continuing
US commercial insurance prices continued to increase during this year's third quarter, though the 5 percent aggregate increase was down slightly from the 6 percent increase during the second quarter, according to Willis Towers Watson (WTW). WTW found price increases continuing across nearly all commercial insurance lines. Read More
December "CICR" Reflects on Captive Industry in 2022
Don't miss the December issue of "Captive Insurance Company Reports" ("CICR"), in which captive insurance industry leaders look back at 2022. Find out their thoughts on how this year's key events, issues, and developments affected the industry as they prepare for 2023. Read More
Survey Offers View into Bermuda Insurers' Artificial Intelligence Use
Nearly two-thirds of Bermuda commercial insurers do not currently use artificial intelligence or machine learning in their operations, with only 23.7 percent of property-casualty companies using the technologies, according to a report from the Bermuda Monetary Authority (BMA). Read More