Market News
InsurTech Forming Captive To Take Risk on Cyber-Insurance Programs
Commercial InsurTech provider Coalition plans to form a captive insurance company to allow it to begin taking risk on its cyber-insurance programs. Coalition said the captive would enhance its ability to manage capacity and long-term growth objectives while providing additional alignment of incentives with the company's customers. Read More
Report Focuses on Litigation Finance as a Social Inflation Driver
With social inflation a growing liability insurance concern, third-party litigation finance is being recognized as a major driver of the trend, a new report suggests. The Swiss Re Institute report suggests that the United States is the center of the world's third-party litigation finance industry. Read More
Concert Group Forms Excess and Surplus Insurer
Recently formed insurance fronting business Concert Group Holdings, Inc., has formed a Montana-domiciled excess and surplus lines insurer, Concert Specialty Insurance Company. Concert Specialty joins Concert Insurance Company, the group's Illinois-domiciled property and casualty operation, as the two companies doing business under the Concert umbrella. Read More
Rating Agency Sees Profitable 2022 for US Property-Casualty Segment
US property-casualty insurance companies are poised to generate statutory underwriting profits and steady earnings in 2022, despite the impact of inflation and a likely reduction in investment gains, according to Fitch Ratings. The rating agency indicated it holds a neutral fundamental outlook for the sector. Read More
Risk Retention Groups Report Strong Third-Quarter Financial Results
Risk retention groups (RRGs) are reporting excellent financial results for the third quarter of 2021, according to a new report. The report by Demotech, Inc., found that from third quarter of 2020 to third quarter of 2021, RRGs' cash and invested assets increased 13.3 percent. Read More