Market News

AM Best's latest report maintains a positive outlook for the global reinsurance market in 2024. Despite hurricane losses, reinsurers show strong profitability, driven by disciplined underwriting and stable property rates. Heightened scrutiny on casualty reserves and increased selectivity in underwriting also shape the market's trajectory. Read More

Swiss Re's latest sigma report examines global insurance market trends, emphasizing slower non-life premium growth, profitability supported by elevated interest rates, and diverging economic trajectories for the United States, Europe, and China. The report urges proactive scenario monitoring as geopolitical and macroeconomic risks continue to shape the global insurance landscape. Read More

Captive insurance empowers franchisors to offer franchisees cost-efficient, tailored coverage, overcoming market challenges. It reduces claims, stabilizes premiums, and provides financial reserves that enhance business value. A well-structured captive creates long-term advantages, making it a strategic tool for managing risk and supporting franchisee success in a competitive landscape. Read More

US commercial auto insurers continue to face substantial losses as rising accident severity, social inflation, and escalating repair costs strain the segment, according to AM Best's latest report. Despite underwriting adjustments and pricing efforts, commercial auto insurance struggles to reach profitability, facing ongoing challenges in a competitive property-casualty market. Read More

A recent article from BestWire in London highlights the transformative role of artificial intelligence (AI) in insurance. Edin Imsirovic discusses generative AI's ability to streamline claims and customer service, though integration remains challenging. Efficient information technology infrastructure is crucial for insurers seeking to harness AI, especially in complex business lines. Read More