Market News
Strategic Risk Solutions Expands into Switzerland, Adds Staff
Insurance management and consulting services firm Strategic Risk Solutions (SRS) has continued its geographic expansion by establishing a presence in Switzerland. SRS also announced that Markus Beck, Georg Balint, and Maria Sandoval have been appointed to key positions in SRS's Swiss office, which will be located in Zurich. Read More
Arizona Licenses 12 Captives in 2020, Bringing State's Total to 131
Arizona licensed 12 captive insurance companies in 2020, with captive regulators expecting formations to continue to increase this year. The licensing of 12 new captives in 2020—up from 9 the prior year—boosted Arizona's captive count to 131. Read More
US P&C Insurers, Global Reinsurers Could See Profits Improve in 2021
US property-casualty insurers and global reinsurers—including Bermuda reinsurers—are positioned to benefit from recovering market conditions in 2021, according to Fitch Ratings. Higher-than-expected catastrophe losses and coronavirus-related claims will drive premium rate increases, the rating agency said. Read More
Premium Increases Continue Across Most Major Lines in Fourth Quarter
Commercial insurance premium renewal rates were up across most major coverage lines in 2020's fourth quarter, according to the January IVANS Index, a premium renewal rate index compiled by the IVANS insurance exchange service. The fourth quarter saw increases across general liability, commercial property, umbrella, and workers compensation. Read More
Vermont Licenses 38 Captives in 2020 as Hard Market Drives Formations
Vermont licensed 38 new captive insurance companies in 2020, bringing the state's total number of licensed captives to 589. A fourth quarter that saw 11 new licenses contributed significantly to Vermont's new captive formations in 2020. Read More