Market News
US Commercial Lines Insurers Likely To See 2022 Underwriting Gains
US commercial lines property-casualty insurers are poised to realize favorable underwriting gains this year, barring outsized natural catastrophe losses, according to Fitch Ratings. Fitch noted that US commercial lines insurers' underwriting performance returned to profitability in 2021, with significant declines in both loss and expense ratios for the year. Read More
US Cyber-Insurance Claims, Payments Grew Rapidly in Recent Years
As cyber attacks continue to increase rapidly, reported US cyber-insurance claims grew by 100 percent in each of the past 3 years, according to Fitch Ratings. At the same time, claims closed with payments increased by 200 percent annually over the same period, with 8,100 claims paid in 2021. Read More
Russia-Ukraine Conflict Raises Various Insurance Claims Complexities
Russia's invasion of Ukraine is likely to present a variety of complex issues around insurance claims across multiple lines of coverage, according to Aon. Claims could include those arising directly from the conflict, claims arising indirectly from the conflict, claims pre-dating the conflict, and claims involving business interruption. Read More
US Directors and Officers Insurers Post Their Best Results Since 2014
The US directors and officers (D&O) insurance market's 2021 results were the best the segment has experienced since 2014, according to A.M. Best. The rating agency noted that US D&O insurers experienced significant growth in both top-line premiums and profitability in 2021. Read More
Risk Retention Groups Posted $570.3 Million in Net Income in 2021
While nearly half of risk retention groups (RRGs) reported an underwriting loss in 2021, those losses for many RRGs were offset by investment gains, according to an analysis by Demotech Inc. With RRGs reporting a net investment gain of $657.8 million in 2021, their collective net income was $570.3 million. Read More