Market News
Reinsurance Market Evolves to Changing Risks at January 1 Renewals
January 1 reinsurance renewals "reflected a healthy but evolving market" with the reinsurance sector again demonstrating the ability to adapt to a changing risk environment, according to a new report from Guy Carpenter. The report says reinsurers adjusted their risk appetites and pricing thresholds for certain sectors. Read More
A.M. Best Maintains Stable Outlook on Global Reinsurance Segment
A.M. Best has maintained a stable outlook for the global reinsurance segment, citing price increases driven by rising loss cost inflation; reinsurers' enhanced market discipline, including tighter terms and conditions; and growing demand for reinsurance capacity. A.M. Best also noted some negative factors facing reinsurers, however. Read More
Birds of a Hawkish Feather
As he enters his second term, Federal Reserve Chairman Jerome Powell will face a variety of challenging conditions as he looks to raise interest rates. The Fed and the chairman recently shifted to a more hawkish stance on inflation, signalling a speedier reduction in the Fed's bond purchase program. Read More
InsurTech Forming Captive To Take Risk on Cyber-Insurance Programs
Commercial InsurTech provider Coalition plans to form a captive insurance company to allow it to begin taking risk on its cyber-insurance programs. Coalition said the captive would enhance its ability to manage capacity and long-term growth objectives while providing additional alignment of incentives with the company's customers. Read More
Report Focuses on Litigation Finance as a Social Inflation Driver
With social inflation a growing liability insurance concern, third-party litigation finance is being recognized as a major driver of the trend, a new report suggests. The Swiss Re Institute report suggests that the United States is the center of the world's third-party litigation finance industry. Read More