Market News
Reinsurance Market Continued Hardening in January: Fitch Ratings
In its review of January reinsurance renewals, Fitch Ratings found that the reinsurance market continued hardening as pandemic-related claims, high natural catastrophe losses, and pressure on liability lines of business led to widespread price increases that often went beyond claims inflation. Read More
Lloyd's Forming Protected Cell Company To Ease Investor Access
Lloyd's of London has obtained regulatory approval to form a new protected cell company (PCC) intended to make it easier for investors to gain access to the Lloyd's market. The independently owned and managed London Bridge Risk PCC Limited was formed under the United Kingdom's PCC legislation. Read More
KBRA Maintains Stable Outlook for US Property-Casualty Industry
While 2020 saw a record North Atlantic hurricane season, Kroll Bond Rating Agency (KBRA) is maintaining a stable outlook for the US property-casualty insurance sector. KBRA noted that the US property-casualty industry achieved record levels of policyholder surplus at the end of 2019 and remains near those levels entering 2021. Read More
Cat Bonds, Insurance-Linked Securities Show Resilience to Challenges
Alternative sources of capital, including catastrophe bonds and other types of insurance-linked securities, have played a growing role in securing coverage for various exposures in recent years. Despite the impact of the COVID-19 pandemic and more frequent and severe natural catastrophes, the market continues to show resilience and growth. Read More
Delaware Licensed 70 New Captive Insurance Companies in 2020
Delaware licensed 70 captive insurance companies in 2020, with most of the new captives, as was the case in 2019, licensed under a fast-track procedure. Of the 70 new captives, 67 received fast-track conditional licenses, which allow captives to operate while Delaware captive regulators review their license applications. Read More