Market News
Demotech Releases Year-End 2017 Financial Analysis of RRGs
Demotech's "Analysis of Risk Retention Groups-Year-End 2017" reports on the overall financial performance of risk retention groups. The rating company's senior financial analyst, Douglas Powell, has concluded that "RRGs have a great deal of financial stability and remain committed to maintaining adequate capital to handle losses." Read More
AIG Builds Brexit Resiliency with 2 New Entities
In a move to restructure its European dealings prior to Brexit, American International Group, Inc. (AIG), will transfer business to two newly formed insurance companies in the United Kingdom and Luxembourg. The reshuffle is intended to provide the organization's clients with uninterrupted UK and European insurance coverage. Read More
Insurers Anticipate Various Terrorism Changes
With the dramatic shift in the terrorism risk landscape, insurers with significant terrorism exposures are considering the expiration of the Terrorism Risk Insurance Program Reauthorization Act at year-end 2020. Insurers will need to consider the potential termination of the federal backstop for their longer-term policies. Read More
Sedgwick Finalizes Cunningham Lindsey Purchase and Names UK Leadership
Sedgwick has finalized the purchase of Cunningham Lindsey and its subsidiaries, bringing the company 6,000 additional Cunningham Lindsey colleagues located in 65 countries. The combined enterprise includes the subsidiaries of Sedgwick, Vericlaim, and Cunningham Lindsey and will operate globally under the Sedgwick name. Read More
Guernsey Regulator Formalizes Relationship with Bank of England
The Guernsey Financial Services Commission has signed a Memorandum of Understanding with the Bank of England, reaffirming a long-held relationship between the regulator and the Bank's Prudential Regulation Authority. Through the agreement, both parties will be able to share confidential information about regulated entities and formally cooperate on supervision activities. Read More