Market News
Bermuda Looks to Latin America as New Source of Captive Business Opportunities
The Bermuda Royal Gazette reported today that a delegation of leading Bermuda captive industry executives attended the Multi-Latina Risk Management Conference in Cartagena, Columbia. It was reported the Bermuda delegation led several panel discussions and roundtables on captive formation, domicile selection, tax effectiveness, risk management solutions and Bermuda's regulatory framework. Read More
Property Casualty Insurers Association of America Private US Insurers Quarterly Reports
Captives interested in benchmarking their performance on a quarterly basis may want to access the quarterly property-casualty financial summary published by Property Casualty Insurers Association of America. Read More
Evergreen USA Risk Retention Group to Cease Renewing and Writing New Coverages
Evergreen USA Risk Retention Group (Evergreen USA) has announced it will cease renewing and writing new policies effective July 15, 2014. The RRG was founded in 1989. "Unfortunately, by showing the insurance world that campgrounds could be a good risk, we now face stiff competition from extremely large... Read More
Best's Journal Reports 14 Property-Casualty Financial Impairments in 2013
The number of 2013 financial impairments in the US property-casualty industry decreased to its lowest level since 2007, according to Best's Journal. What is disconcerting about the Best's Journal report is that "Risk retention groups (RRGs) operating in a variety of fields represented half of the 2013 impairments." Read More
Willis Survey Shows Record Quarterly Commercial Lines Price Increases
Willis Towers Watson says US property-casualty insurance prices experienced the largest quarterly increase in its pricing survey's history during the second quarter. Willis Towers Watson's Commercial Lines Pricing Survey found prices increased almost 10 percent in the second quarter compared to prices during the same period in 2019. Read More