Market News
Largest European Reinsurers' Performance Improved through September
The four largest European reinsurers showed strong improvements during the first three quarters of 2021 compared to their performance during the same period last year, according to Fitch Ratings. On average, the four reinsurers posted double-digit premium growth in property and casualty reinsurance during this year's first 9 months. Read More
Strategic Risk Solutions Acquires Barbados Segregated Cell Company
Independent insurance company manager Strategic Risk Solutions (SRS) has acquired Global Re SCC, a Barbados-registered segregated cell company (SCC). Global Re SCC joins other cell facilities SRS offers in Bermuda, the Cayman Islands, Guernsey, North Carolina, and Vermont. Read More
New Capacity, Price Adequacy Contribute to Rate Increase Moderation
During the third quarter of 2021, the global insurance market saw the trend of decelerating rate increases that began a quarter earlier continuing, according to a new market report from Aon. New capacity, reduced uncertainty, and insurers' past pricing adjustments have moderated price increases in most lines of insurance business. Read More
Grant Supports Expansion of CCRIF Fisheries Insurance Program
CCRIF SPC received a €1 million ($1.16 million) grant from the government of Ireland—through Irish Aid—to support the rollout of a parametric insurance product for the fisheries sector in 5 additional CCRIF countries in the Caribbean. With the grant, CCRIF will provide the program to 7 Caribbean countries. Read More
Economic Recovery Fuels P&C Insurers' Strong First Half
US property and casualty (P&C) insurers experienced strong net income growth during the first half of 2021 as the country's economy continued to recover from the COVID-19 pandemic, according to a report from data analytics provider Verisk and the American Property Casualty Insurance Association. Read More