Market News

Michael Maglaras & Company has helped its 1,000th family affected by Connecticut's crumbling foundations crisis through the Connecticut Foundation Solutions Indemnity Company (CFSIC). With more than $200 million in funding secured, Mr. Maglaras is seeking additional resources to continue addressing the crisis and exploring broader applications of the captive model. Read More

Cayman's insurance sector continues its growth with 29 new licenses issued by Q3 2024. The Cayman Islands now hosts 696 insurers, driven by strong interest in captive insurance and reinsurance. The Cayman Islands Monetary Authority expects further expansion in the final quarter, fueled by new applications and a strong business pipeline. Read More

In 2024, commercial insurance rates remain stable, with small adjustments across most lines. Increased competition in reinsurance and retail sectors drives this balance, except for umbrella and excess liability. Notable trends include capacity challenges in first-party business and softening conditions in financial lines, particularly in cyber insurance. Read More

The US directors and officers (D&O) insurance sector remains profitable despite an 8 percent drop in premiums and increased competition. Stable loss ratios and past price hikes help offset declining prices, but future profitability may be challenged by potential increases in litigation and claims from emerging risks like cyber threats and climate change. Read More

The US property and casualty industry posted a $3.8 billion underwriting gain in the first half of 2024, driven by improved personal lines results and increased investment income. Strong capital gains helped boost the industry's net income to $97.6 billion, reflecting a significant financial recovery from 2023's losses. Read More