Market News

Global commercial insurance prices increased 22 percent during the fourth quarter of 2020, according to the Global Insurance Market Index from Marsh. The increase was the largest since the index was launched in 2012 and followed a year-on-year average increase of 20 percent in the third quarter. Read More

Captive insurance company formations ticked up in 2020, with more growth expected this year, captive regulators and managers say, as premiums continue to rise in the traditional market. The hardening traditional market is setting the stage for continued captive insurance growth in 2021. Read More

The North Carolina Department of Insurance reported that the state licensed 47 captive insurance companies and approved 126 cells or series in 2020. As of December 31, North Carolina was regulating 795 risk-bearing captive insurance entities, including 250 captive insurance companies and 545 cells and series. Read More

Texas, one of the youngest and fastest-growing captive insurance company domiciles in the United States, continues to see its captive count rise. In 2020, Texas licensed 14 captives, bringing its total captive insurance company count to 57, a spokesman for the Texas Department of Insurance said. Read More

The ratings of the four major European reinsurers will likely not be affected by a recent UK Supreme Court ruling on the validity of COVID-19 pandemic-related business interruption (BI) claims against UK primary insurers, according to Fitch Ratings. The January 15 ruling went largely against primary insurers. Read More