Market News

A.M. Best is maintaining its estimate for ultimate net asbestos losses at $100 billion, with environmental losses also holding steady at $46 billion, according to a new report based on year-end 2022 data. Best said the industry has funded 95 percent of its aggregate asbestos and environmental exposures. Read More

Climate change, cyber threats, supply-chain disruption, and people risks should be top priorities for organizations looking to manage strategic risks, according to the Federation of European Risk Management Associations (FERMA). FERMA outline the priorities in a new white paper, "The Roadmap to Strategic Risk Management," produced in partnership with Marsh. Read More

Global InsurTech funding increased 19.8 percent quarter on quarter during this year's third quarter to $1.098 billion from $916.71 million during the second quarter, according to the "Gallagher Re Global InsurTech Report" for Q3 2023. The third-quarter investments were spread across 119 deals, up from 97 deals in the second quarter. Read More

In a year marked by uncertainty, the role of captive insurance in organizations' risk management efforts continued to grow in 2023. With no sign of the hard market easing for at least another year (or two), captives provide a way to reduce costs while exerting greater control over challenging risks. Read More

In a recent webinar, independent captive manager Strategic Risk Solutions (SRS) said captive insurance experienced a remarkable year marked by significant growth and increased interest. SRS highlighted the surge in new captive formations, the evolving landscape of captive domiciles, and the shifting dynamics in response to market challenges. Read More