Market News
Firm Pricing the Norm at April 1 International Reinsurance Renewals
April 1 international reinsurance renewals were consistent with earlier trends as pricing remained firm in virtually all classes and territories, according to Willis Re. The intermediary said reinsurance capacity was adequate across the board, and there were no substantive changes in negotiations over exclusionary language. Read More
Nevada Captive Bill Would Expand Commissioner's Review Authority
The Nevada insurance commissioner would be given new authority to review the qualifications of a captive insurer's manager and, if appropriate, disqualify the manager or suspend or revoke the captive's license under A.B. 45, legislation now under consideration by state lawmakers. Read More
A.M. Best Assigns Stable Market Segment Outlook to London Market
A.M. Best has assigned a stable market segment outlook to the London insurance and reinsurance market. Key factors supporting the outlook included upward premium rate momentum, which is expected to support better underlying performance, greater consistency and clarity of policy wordings, and the ongoing modernization of the market. Read More
Insurers' and Reinsurers' Premiums Grew in 2020, Despite Challenges
Despite the impact of the COVID-19 pandemic, global insurers and reinsurers achieved premium growth in 2020 due to rate increases for reinsurance and commercial insurance lines, with US premiums outpacing gross domestic product growth, according to Willis Re. In the US market, most lines of business reversed second-quarter premium declines. Read More
April CICR Reimagines Risk Management
Don't miss the April issue of Captive Insurance Company Reports (CICR), which offers insight into the ways risk management can be reimagined as the pandemic moves from "a respond to recover phase." Read More