Market News
9-Month Results Show Reinsurers' Pandemic Losses Starting To Fade
The results of 4 major European reinsurers through the 1st 9 months of 2020 are showing that pandemic losses are beginning to fade, according to Fitch Ratings. Event cancellation coverage was the only affected business line that required major adjustments to expected claims, the rating agency said. Read More
Commercial Premium Increases Average 11.7 Percent in 3Q: CIAB
Commercial insurance premiums continued to increase in the third quarter of 2020, according to the Council of Insurance Agents and Brokers’ (CIAB) quarterly Commercial Property-Casualty Market Index. Survey respondents reported moderate to significant increases for all account sizes and all commercial lines, including workers compensation. Read More
A.M. Best Affirms American Contractors Insurance Group's A Rating
A.M. Best has affirmed the A (Excellent) financial strength rating of American Contractors Insurance Group (ACIG) with a financial size rating of VII ($100 million to $250 million) in capital and surplus. ACIG was the recipient of the Captive Insurance Companies Association’s (CICA’s) 2019 Outstanding Captive Award. Read More
Swiss Re Report Sees Global Premium Growth Rebounding in 2021
While global insurance premiums are projected to fall 1.4 percent this year, premium growth is expected to rebound swiftly in 2021 and 2022, supported by continued rate hardening, according to a new report from Swiss Re. The new report estimates that global premium growth will hit 3.4 percent in 2021. Read More
Premium Increases Continue Across Nearly All Lines in October
Nearly all commercial insurance lines saw year-over-year renewal rate increases again in October, according to the IVANS Index, a regular premium renewal rate index compiled by the IVANS insurance exchange service. Year-over-year, all lines of business except workers compensation saw an increase in average premium renewal rates. Read More