Market News
2017 Brings Moderate Captive Insurer Growth in Major Domiciles
Amid a soft commercial market, the number of captive insurers being set up in major domiciles continues to increase at modest levels. "It isn't just body count that is important. What also is important is that captives are taking on more business," said Tom Jones of McDermott Will & Emery. Read More
Fitch: Bermuda Market To Report Elevated Combined Ratios for 2017
Bermuda's major re/insurers will report elevated combined ratios for 2017, averaging around 108-109 percent, including more than 20 percentage points from catastrophe losses, Fitch Ratings said in its latest "Bermuda 2018 Market Update." Read More
Fitch: Tax Reforms Reduce Advantage of Reinsuring US Risks to Bermuda
US tax reforms are credit negative for the Bermuda re/insurance market, Fitch Ratings said. The cut in the US corporate tax rate and a new tax on premiums ceded by US insurers to foreign reinsurers will reduce the tax advantage of reinsuring US risks to Bermuda and other international reinsurers. Read More
Alternative Market Alters Reinsurance Renewal Pricing, According to Fitch
The reinsurance underwriting cycle may finally have turned, but price rises look modest despite large catastrophe losses in 2017, suggesting that the cycle may have become flatter, according to a Fitch Ratings report. Fitch believes the growth of the alternative capital sector has altered reinsurance market dynamics. Read More
"IVANS Index" Provides Fourth-Quarter and 2017 Year-End Results
December's "IVANS Premium Renewal Rate Index" findings show a slight uptick in premium renewal rate change average across commercial auto, businessowner's policy, general liability, and commercial property compared to third quarter. December's report also includes IVANS overall year-end 2017 results. Read More