Market News
Market Remains Hard, But Report Sees Improvements in Coming Months
While the North American commercial property-casualty insurance market remains hard, buyers can expect improvements in the months ahead, according to Willis Towers Watson (WTW). Still, buyers are likely to continue facing upward pressure on pricing across most lines of business for the rest of 2021. Read More
US Property-Casualty Insurers' 2020 Performance Exceeded Expectations
Publicly traded US property-casualty insurers performed unexpectedly well in 2020 despite the extraordinary challenges confronting them, according to a new report from A.M. Best. In its special report "US P/C Insurers Perform Well Despite COVID-19," Best found that the group of insurers generated $82.1 billion in operating income last year. Read More
Heightened Political Risks Caused by COVID-19 To Continue in 2021
The COVID-19 pandemic increased economic risks in 2020 and will remain a significant factor in the political risk landscape in 2021, according to Marsh Specialty's Political Risk Map 2021. The report highlights the growing inequality between rich and poor nations and a continuing increase in economic risks for all countries. Read More
Significant Increase in Claims Losses Pressures Cyber-Insurer Profits
Property and casualty insurers writing cyber insurance are facing increasing profit pressure as they report significantly higher claims losses in the segment for 2020, according to Fitch Ratings. A large unforeseen event could result in substantial losses that could pressure insurers' capital levels and individual ratings. Read More
Guernsey Experiences Surge in Captive-Based Pension De-Risking Deals
Over the past 18 months, Guernsey has seen a surge in the number of pension longevity risk transfer deals conducted through captive insurance companies based in the domicile. The pension de-risking activity has continued through the uncertainty of the COVID-19 pandemic, according to a statement from Guernsey Finance. Read More