Market News
Fitch Reinsurance Outlook Reveals Rate Increases Depend on ILS Appetite
Fitch Ratings has updated its "Global Reinsurance 2018 Outlook" to incorporate the catastrophe losses incurred from Hurricanes Harvey, Irma, and Maria, as well as losses from the earthquakes in Mexico and wildfires in California, and shares its findings, warnings, and expectations for the sector. One expectation being that the key driver of the magnitude of future rate increases depends on the insurance-linked securities (ILS) market's appetite to invest more capital in reinsurance. Read More
Fitch: US P&C May See Short-Lived Rate Improvement in 2018
US property and casualty insurers' operating performance appears set to rebound somewhat next year following 2017's rough catastrophe-related losses, according to Fitch Ratings in its 2018 outlook report for property and casualty insurers, "Fitch 2018 Outlook: U.S. Property/Casualty Insurance." While Fitch's rating outlook is stable for P&C insurers, the fundamental sector outlook remains negative. Read More
Year over Year US Property and Casualty Prices Remain Nearly Flat
In the latest "Commercial Lines Insurance Pricing Survey," Willis Towers Watson reports the continuation of nearly flat commercial insurance prices in the US during the third quarter of 2017. Price changes reported by carriers averaged less than 1 percent for the ninth consecutive quarter. Read More
"IVANS Index" November Results Show Continued Month-to-Month Variance
November's "IVANS Index: Premium Renewal Rate Index" findings show that the premium renewal rate change for the majority of standard commercial lines products remains in positive territory, while workers compensation continues to stay in negative terrain. Premium renewal rate change across the industry has remained mainly positive from month to month. Read More
Beijing and Guernsey Move Forward on Captive Insurance Deal
Guernsey-based Alternative Risk Management and Beijing Airport Captive Management Consulting will partner to create captive insurance structures and provide captive management services for businesses in China. The joint venture comes after the March 2017 signing of a memorandum of understanding between Guernsey Finance and the Beijing Airport Economic Core Zone. Read More