Market News
2018 Reinsurance Outlook for Captives
Reinsurance is an integral part of most captive insurers' risk management programs. Due to a confluence of events, reinsurance pricing has been fairly benign over the last several years. However, this may change in 2018. Find out why captives need to focus on reinsurance renewals. Read More
Bermuda Monetary Authority Releases Its "Captive/SPI Report 2017"
Bermuda Monetary Authority recently released its 2017 captive/special purpose insurer (SPI) statistics. This article reviews the report, and selected highlights are included. Other captive domiciles would do well to follow Bermuda's lead and create greater transparency in the captive industry. Read More
RAA Reports Dramatic Deterioration in US Reinsurers' Operating Results
A Reinsurance Association of America (RAA) survey of reinsurers' statutory underwriting results reveals that the combined ratio for a group of 18 US property and casualty reinsurers was 111.9 percent during the 9 months ended September 30, 2017, deteriorating from the 94.9-percent combined ratio reported for the same period in 2016. Read More
Bermuda Provides Pivotal Reinsurance Capacity to the United States
Since 1997, Bermuda reinsurers have paid out $208.7 billion to US policyholders and cedents for large catastrophes, related property insurance, and general liability losses, according to the Bermuda Monetary Authority. More recently, records estimate Bermuda reinsurers will pick up 30 percent of the 2017 hurricane season losses from Harvey, Irma, and Maria. Read More
Chinese Reinsurer Formed in Guernsey, Europe's Top Captive Domicile
Chinese reinsurer Brilliant Reinsurance Limited has formed as Guernsey's first Chinese insurance company, providing further proof of the growing connection between Guernsey's insurance industry and China's business sector. Alternative Risk Management, an independent insurance manager, will manage Brilliant Reinsurance's retroceded business from the Lloyd's of London re/insurance market. Read More