Market News

The Cayman Islands Monetary Authority issued 5 new international insurer licenses during the first 3 months of this year. New licenses issued included two Class B(i) and three Class B(iii) insurer licenses, with six additional licenses approved in principal and nine additional applications currently under review. Read More

AM Best is revising its outlook for the London market insurance segment to stable from positive, citing market softening and exposure challenges. Best cited the combination of a softening pricing environment and certain exposure management challenges facing London market insurers. Read More

The global cyber-insurance market is on track to reach $16.3 billion in 2025, up from $15.3 billion in 2024, according to a new report from Munich Re. The report said that the cyber-insurance market has proven itself capable and efficient in protecting insured critical digital assets. Read More

Global reinsurance dedicated capital reached $769 billion in 2024, a 5.4 percent increase from the 2023 level, according to Gallagher Re. Reinsurers' return on equity remained strong in 2024 at 17 percent, according to Gallagher Re, though that was down slightly from 19.5 percent in 2023. Read More

The Federation of European Risk Management Associations (FERMA) has issued a consultation paper as part of the organization's effort to elevate the maturity of the enterprise risk management (ERM) function within organizations. The ERM discipline remains underused and undervalued in some organizations, a FERMA statement said. Read More