Market News

The first-half 2020 results of four major European reinsurers revealed considerable pandemic-related claims, although the reinsurers' capital remained resilient, according to Fitch Ratings. The rating agency said the reinsurers' credit fundamentals were mostly in line with its assessment at the beginning of the pandemic, although pandemic-related losses were larger than anticipated. Read More

For many organizations, setting up a captive insurance company to cover specific risks may be only the first step in a captive's evolution, experts say. As time passes, the captive may not be where it was at its beginning, said Anne Marie Towle, senior vice president at Hylant Group, Inc. Read More

Global commercial insurance prices increased 19 percent in this year's second quarter, according to Marsh's quarterly Global Insurance Market Index. It was the eleventh consecutive quarter of price increases, according to Marsh. The second-quarter increase was the largest since Marsh launched the index in 2012. Read More

All commercial insurance lines except workers compensation saw year-over-year increases in July, according to the IVANS Index, a premium renewal rate index compiled by IVANS insurance exchange service. Compared to July 2019, commercial auto, general liability, commercial property, businessowners policy, and umbrella coverages experienced premium renewal rate increases in July. Read More

An analysis of risk retention groups (RRGs) financial results from the first quarter of 2020 finds that RRGs have a great deal of financial stability and remain committed to maintaining adequate capital to handle losses. Demotech, Inc., said RRGs' first-quarter balance sheet ratios appear to be appropriate and conservative. Read More