Market News
AI Advancements Transform Insurance: Insights from A.M. Best Briefing
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
Global Reinsurers' ROE Surges to 22 Percent in 2023 Amid Strong Performance
A.M. Best's latest report shows global reinsurers reached a 22 percent ROE in 2023, a 5-year high driven by strong underwriting and investment results. Read More
Podcast Insight: Lloyd's Captive Syndicate—a Game Changer for Multinational Risk Management
Lloyd's new captive syndicate model introduces an innovative approach to multinational risk management, eliminating the need for fronting capacity and offering seamless cross-border coverage. With licenses in over 80 countries, this model enables companies to efficiently manage direct and third-party risks, especially across complex global supply chains. Read More
US State Workers Compensation Funds See Market Share, Performance Gains
Competitive US workers compensation state funds maintained market share with steady premium growth amid economic recovery. Despite underwriting losses driven by high policyholder dividends, the funds' appeal remains strong, especially in restricted markets, as businesses increasingly seek state fund options when private market coverage is limited. Read More
Premium Renewal Rates for All Major Commercial Lines Dip in October
The October Ivans Index™ reported slight month-over-month declines in premium renewal rates for all major commercial lines. Key lines, including commercial auto, businessowners policy, general liability, commercial property, and umbrella, saw decreases, while workers compensation remained in negative territory with a continued rate decline. Read More