Market News
Technological Change and Cyber Risk Are Top Insurer Risks, According to CSFI Survey
The top risk now faced by the global insurance industry is its ability to confront structural and technological changes (change management), according to a new Centre for the Study of Financial Innovation (CSFI) survey. Cyber risk follows closely, with anxiety about attacks on insurers and the costs of underwriting cyber crime. Read More
Blockchain Technology: Transforming Insurance in Real Time
AIG, IBM, and Standard Chartered Bank have successfully piloted the first multinational, smart contract"-based insurance policy using blockchain technology. The "smart contract" is a conversion of a multinational Read More
CLIPS Survey Finds Commercial Insurance Prices Remain Nearly Flat
Commercial insurance prices in the United States were nearly flat during the first quarter of 2017, according to Willis Towers Watson's most recent Commercial Lines Insurance Pricing Survey" ("CLIPS"). Price changes reported by carriers averaged less than 1 percent for the sixth consecutive quarter." Read More
Excess Capacity and Strong Competition Drive Down Reinsurance Rates
Excess capacity and strong competition among traditional and insurance-linked securities (ILS) markets were again instrumental in driving rates down. Specifically, renewed vigor by ILS markets to deploy capital was notable this year as they looked to increase participation, particularly with stronger performing cedents. Read More
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