Market News
Man-Made Risks Forecast To Cost World's Cities $320 Billion Annually
Man-made risks like cyber crime, interstate conflicts, or market crashes are a bigger threat to economic output than natural disasters such as hurricanes, floods, earthquakes, and volcanoes, putting an estimated $320.1 billion of global gross domestic product at risk on average each year, according to Lloyd's. Read More
Reinsurance M&A Driven by Strong Competition and Scale Benefits
Consolidation of the global reinsurance industry will continue, as intense market competition and capital levels drive mergers and acquisitions (M&A), while smaller players lacking scale and diversification see further pressure on growth and profitability, Fitch Ratings said. Read More
Bermuda Accounted for 63 Percent of ILS Issued during First Quarter
According to Bermuda Monetary Authority's "Bermuda Insurance-Linked Securities (ILS) Market Report" for the first quarter of 2018, the island remained the leading jurisdiction for ILS issuance, representing 75 percent of the global outstanding ILS capacity at the end of the quarter ($24.8 of $33.3 billion total global capacity). Read More
Marsh and IBM To Use Blockchain Proof of Insurance through Salesforce
Marsh is expanding its collaboration with IBM to provide clients with wider access to the industry's first commercial blockchain solution for proof of insurance. Read More
Excess and Surplus Lines Market Poised To Make Underwriting Profit
Modest recovery is expected to continue for the US excess and surplus lines insurance market, which will provide a boost for US property-casualty insurance companies that have significant operations in this specialty segment. Read More