Market News
Captive Insurance Solution Used for Large UK Pension Scheme Deal
In the second-largest-ever deal of its type, HSBC in Bermuda (advised by AON) set up a £7 billion captive-insurance-based pension longevity swap, involving the HSBC Bank (UK) Pension Scheme and Prudential Insurance Company of America (PICA). Read More
IVANS: Some Commercial Lines Products Show Renewal Rate Increase
IVANS announced its July 2019 results showing a downtick in premium renewal rate change across half of the commercial lines products, including commercial auto, general liability, and commercial property. Businessowners policy, umbrella, and workers compensation experienced slight positive changes in July. Read More
Willis Re: ILS Market Slow To Return to Normal
The insurance-linked securities (ILS) market declined year-over-year in the second quarter of 2019, with just below $1.7 billion of nonlife ILS capacity issued through 11 catastrophe bonds, according to Willis Re's latest "ILS Market Update." Read More
Global Commercial Insurance Pricing Up 6 Percent
Marsh recently released its "Global Insurance Market Index," which showed that average commercial insurance prices increased 6 percent in second quarter 2019. Read More
New Reinsurance Pool for Captive Insurers Knox Re Formed
A newly launched reinsurance pool for captive insurance companies is being offered by CIC Services, LLC (CICS), for property and casualty insurance coverages. Read More