Market News
EIOPA "Stress Test" Finds European Insurers Adequately Capitalized
The "2018 Insurance Stress Test Report" on the European insurance sector was recently released by the European Insurance and Occupational Pensions Authority (EIOPA). The results revealed that, on aggregate, the sector is adequately capitalized to absorb the test's prescribed shocks. Read More
IVANS: Commercial Lines Renewal Rates Reflect Variable Changes
IVANS has announced the "IVANS Index: Premium Renewal Rate Index" November results. For the first time this year, rate changes are split evenly, with an uptick in premium renewal rate across businessowners policy, commercial property, and umbrella, while commercial auto, general liability, and workers compensation experienced a downward shift. Read More
Demotech Releases Third Quarter 2018 Financial Analysis of RRGs
Demotech has released its "Analysis of Risk Retention Groups-Third Quarter 2018," reporting on the overall financial performance of Risk Retention Group (RRG). Douglas Powell, Demotech's senior financial analyst, has concluded that "RRGs have a great deal of financial stability and remain committed to maintaining adequate capital to handle losses." Read More
KBRA Assigns A Rating to Hamilton Re
Kroll Bond Rating Agency (KBRA) assigned an insurance financial strength rating of A to Hamilton Re, Ltd. (Hamilton Re), a Bermuda, Class 4 property-casualty reinsurer. KBRA also assigned an issuer rating of BBB+ to Hamilton Insurance Group, Ltd., the Bermuda-based holding company for Hamilton Re. Read More
Captive Insurers Allowed 18 Months To Self-Report to Washington State
Washington State Insurance Commissioner, Mike Kreidler, has offered captive insurance companies that have "unlawfully" insured any risk in Washington State in the past 15 years the chance to pay a substantially reduced fine and premium tax penalty for self-reporting this activity. Read More