Market News
Superintendent Sought for New Connecticut Captive Insurer
The incorporators of a new Connecticut captive insurer, Connecticut Foundation Solutions Indemnity Company, LLC (CFSIC), have released a request for proposal (RFP) for the role of superintendent of the company. Interested parties are encouraged to read and respond to the RFP. Read More
ILS Records "Shattered" in 2017, According to Swiss Re Report
According to the Swiss Re Capital Markets latest "Insurance-Linked Securities Market Update," 2017 produced groundbreaking records for the insurance-linked securities (ILS) market. While the first half of the year was "record-shattering," with $8.4 billion of ILS issuance, the second half of the year quieted to merely $2.13 billion of issuance. Read More
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