Market News
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
Best Revises US Commercial Lines Property and Casualty Outlook to Stable
A.M. Best has revised its outlook for the US commercial lines property and casualty insurance segment to stable from negative. The rating agency cited the relatively modest negative impact of the COVID-19 pandemic, continued strong pricing momentum across the segment, and favorable rulings thus far on many business interruption coverage disputes. Read More