Market News

Nevada licensed 21 new captive insurance companies—most of them cell captives—in 2021, bringing the state's total to 295. According to the Nevada Division of Insurance, of the 21 new captives, 17 were protected cells, 3 were pure captives, and 1 was an agency captive. Read More

Cyber-insurance provider Cowbell Cyber has formed a Vermont-domiciled captive insurance company to help the company meet the growing demand for cyber insurance. The InsurTech firm uses artificial intelligence to assist in risk selection and pricing as it underwrites cyber-insurance coverage for small-to-medium enterprises. Read More

Amid tightening conditions in the traditional commercial insurance market, South Carolina licensed a large number of new captive insurance companies in 2021. South Carolina licensed 21 captive insurance companies in 2021, bringing the state's total number of captives to 183. Read More

Arizona licensed 27 new captive insurance companies in 2021, the most in a year for the state, with captive regulators expecting continued growth amid hardening conditions in the traditional market. The licensing of 27 new captives in 2021 increased Arizona's captive count to 149 at the end of 2021. Read More

S&P Global Ratings has maintained a stable outlook on the North American insurance services sector, citing strong economic conditions, the current insurance rate environment, and the likelihood for robust capital market and deal activity in 2022. Insurance brokers are the largest group within the sector. Read More