Market News
Hamilton Re Creates Capacity with New Special Purpose Vehicle, Turing Re
Hamilton Re, the Bermuda-based operations of Hamilton Insurance Group, announced that it has established its first special purpose vehicle, Turing Re Ltd. Turing Re will provide collateralized capacity for Hamilton Re's global reinsurance portfolio. Turing Re is funded with $65 million of capital in support of Hamilton Re's property treaty book of business. Read More
New Report Identifies Malpractice Risks of Medication-Related Errors
Medication-related errors are common, can cause high-severity injuries, and may be costly. A new report issued by CRICO Strategies, "Medication-Related Malpractice Risks," examines the impact-financial and human-and root causes of medication-related errors. Read More
RIMS Backs Treasury Department's US-EU Covered Agreement on Reinsurance
RIMS President Nowell Seaman sent an official letter to the secretary of the US Department of the Treasury, Steven T. Mnuchin, expressing the Society's support for the recently proposed US-European Union (EU) Covered Agreement. The bilateral agreement is designed to improve the access and management of reinsurance between the United States and Europe. Read More
Reinsurance Pricing Won't Turn This Year, Says Fitch Ratings
The soft pricing in the global reinsurance market will continue for at least the rest of 2017, Fitch Ratings says. Fitch expects premium rates to continue declining, due to large volumes of under-deployed capital and sluggish demand from reinsurance buyers following several years of below-average catastrophe claims. Read More
KBRA Announces New Captive Rating Service
The market for captive ratings just expanded with the announcement from Kroll Bond Rating Agency (KBRA) about its new rating option. We interviewed KBRA's insurance specialists at the KBRA home office in New York, and our Q-and-A examines this new option and how it differs from the model-driven philosophy of other credit rating agencies. Read More