Market News

The US property and casualty industry posted a $3.8 billion underwriting gain in the first half of 2024, driven by improved personal lines results and increased investment income. Strong capital gains helped boost the industry's net income to $97.6 billion, reflecting a significant financial recovery from 2023's losses. Read More

To fully benefit from group captive insurance, companies should control risk, engage with fellow members, and participate in the claims process. These steps improve safety practices, reduce claims costs, and enhance insurance outcomes. Find out more from Captive Resources about maximizing your group captive experience. Read More

US surplus lines premiums reached $115.6 billion in 2023, a 17.4 percent increase over the previous year. Growth was driven by climate risks, rising commercial lines prices, and new distribution partnerships. Lloyd's market saw the largest increase, while domestic surplus lines insurers improved their combined ratio to 90.0. Read More

Federation of European Risk Management Associations’ (FERMA) "Cyber Reporting Stack" report urges the European Union (EU) to simplify cyber-incident reporting requirements, proposing a single point of entry for notifications and highlighting the need for insurance considerations. It offers guidance for risk managers navigating complex EU regulations like General Data Protection Regulation, Network and Information Security Directives, Digital Operational Resilience Act, and the upcoming Cyber Resilience Act. Read More

The South Carolina Captive Insurance Association (SCCIA) announced a $20,000 scholarship gift to the International Center for Captive Insurance Education (ICCIE). The scholarships aim to support individuals pursuing professional certifications in captive insurance. Read More