Market News
A Message from MSI's Puerto Rico Headquarters
Management Services International (MSI), headquartered in Puerto Rico, reports that its team and staff on the island are safe after Hurricane Maria. While the storm has devastated Puerto Rico, leaving MSI's office in San Juan with limited e-mail and phone service, the office remains open for business. Read More
"First" Insurance-Linked Securities Blockchain Transaction Completed
Dom Re IC, an insurance-linked securities (ILS) reinsurance transformer, issued what it believes are the first notes digitized on a private blockchain. The transaction was an asset-backed securitization of a reinsurance contract where Dom Re issued $14.8 million in principal-at-risk, participating notes to six investors. Read More
PCAOB Adopts New Standards on Unqualified Audit Opinion Disclosures
Why should captive insurers care about new accounting opinion disclosure standards for public companies? The reason is that they bring the United States into closer alignment with international accounting standards and are likely to become "best practices," even for nonpublic companies. Read More
Four Largest European Reinsurers Maintain Pricing Discipline
Pricing discipline by Munich Re, Swiss Re, Hannover Re, and SCOR is proving an important competitive advantage amid declining market pricing and investment yields, Fitch Ratings says. The four largest European reinsurers have been able to largely maintain their pricing and policy terms without a significant fall in business volumes. Read More
Captive Update on the 2017 NAIC Summer Meeting
What are the key takeaways for captive insurers from the recent National Association of Insurance Commissioners (NAIC) Summer 2017 National Meeting? Model laws for cyber security, corporate governance, financial stability, risk assessment, and triple X captives were all under discussion. Read More