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  • Using Artificial Intelligence To Create Insights into Insurance Risk XL Catlin's internal innovation team, Accelerate, will team up with Cytora, a UK-based insurtech start-up, to use artificial intelligence and open source data to create new insights into risk by leveraging Cytora's expertise in sourcing, analyzing, and combining data from multiple sources.
  • Cayman Island Insurance Company Formations Clipping Along in 2017 To date for 2017, the Cayman Islands Monetary Authority has issued 23 new insurance company licenses. This count includes 20 Class B licenses and 3 Class C licenses. The 2016 year ended with a grand total of 39 new insurer licenses, following 22 in 2015 and 23 in 2014.
  • The US 2017 Billion-Dollar Weather and Climate Disasters Count Hits 15 Since June 2017, six weather and climate events impacted the United States with costs exceeding $1 billion. The events included Western wildfires, Northern Plains drought, severe weather in the Midwest, and Hurricanes Harvey, Irma, and Maria. This brings the year-to-date total to 15 separate billion-dollar weather and climate disasters.
  • Tennessee Delivers 3 Modernized Rules for Captive Insurers The Tennessee Department of Commerce & Insurance is ushering in new, more modern rules to guide the Volunteer State's burgeoning captive insurance industry. The new rules relate to dormancy, audits, and financial exams.
  • Swiss Re sigma Study: Deep Changes, New Risks, and New Opportunities The Swiss Re sigma study "Commercial insurance: innovating to expand the scope of insurability" reveals that product development and innovation around data and data analytics have expanded the scope of insurance solutions to a wider range of threats and perils and made risk transfer more efficient.
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Captive Insurance Issues and Trends 2017

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Global Insurance Industry Mergers and Acquisitions Down 24% from 2015

Clyde & Co reports that completed insurance industry mergers and acquisitions (M&A) worldwide continued a downward trend, with 170 deals in the first 6 months of 2017, compared to 186 in the preceding period. Activity is now down 24 percent from the first half of 2015, when there were 225 deals.
August 04, 2017 Read More
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Positive Commercial Lines Premiums Continue in July, According to "IVANS"

IVANS, a division of Applied Systems, recently announced the commercial lines premium results for July’s "IVANS Index: Premium Renewal Rate Index." Premium renewal rate change for the majority of commercial lines products remains in positive territory, but workers compensation has dipped below -1.00 percent for the first time this year.
August 03, 2017 Read More
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A.M. Best-Rated Captives and Alternative Risk Profits Are Up Nearly 16%

A.M. Best has released its latest special report on the financial performance of A.M. Best-rated US captives. According to the report, A.M. Best-rated captives and other alternative risk transfer mechanisms posted excellent results in 2016, with pretax profits up by nearly 16 percent year over year.
August 03, 2017 Read More
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Medical Stop-Loss Captives in an Uncertain Health Insurance Environment

Medical stop-loss captives work well in any environment but are especially timely in today's uncertain health insurance environment. Anne Marie Towle of JLT Insurance Management examines ways both large and smaller employers can take advantage of this risk transfer solution.
August 02, 2017 Read More
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Carol Pierce—Captive Insurance Person of Interest

As part of our ongoing commitment to provide thoughtful commentary concerning issues impacting captives and the broader insurance markets, we spoke with Carol Pierce. Read her thoughts on rating agencies and regulation, and get a sneak peek at the new Kroll Bond Rating Agency captive rating methodology.
August 02, 2017 Read More
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Reinsurers Exhale as Controversial Border-Adjustment Tax Is Set Aside

In a joint statement on tax reform issued by the US House of Representatives, the US Senate, the US Department of the Treasury, and the National Economic Council, the controversial Border-Adjustment Tax will not be considered as part of proposed structural changes to the US Tax Code.
August 01, 2017 Read More
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Record-Breaking Insurance-Linked Securities Issuance Continues

Willis Towers Watson Securities reported in the July 2017 "ILS Market Update—At a Crossroad" that, continuing the trend from the first quarter of the year, non-life insurance-linked securities (ILS) issuance reached a record-breaking $6.3 billion in Q2 2017. ILS assets under management also continue to grow alongside fierce competition from investors.
August 01, 2017 Read More
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Now Open for Comment: Kroll Bond Rating Agency's Captive Insurance Methodology

Kroll Bond Rating Agency (KBRA) has released its proposed methodology for rating captive insurance companies. The quality of capital, reserving practices, leverage, reinsurance, operating fundamentals, regulatory environment, risk management, and sovereign risk are among the factors considered in KBRA's captive insurance ratings approach.
July 31, 2017 Read More
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Risk Retention Group Expansion: A Modest Yet Critical Proposal

A new drive is about to begin aimed at convincing Congress to pass legislation to expand the coverages risk retention groups can provide to member-owners. The legislation is expected to be similar to a measure introduced during the last congressional session that would have allowed certain risk retention groups to cover policyholders' property risks.
July 31, 2017 Read More
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Zurich Names Todd Cunningham To Head Captive Unit

Todd Cunningham has been named to head the Single-Parent and Sponsored-Cell Captives unit for Zurich North America. As part of its single-parent captive solutions, Zurich offers a range of fronting, reinsurance, claims, risk-engineering, and loss-analysis services for single-parent captives and a multinational reach that can help align captive programs with local insurance regulations.
July 28, 2017 Read More
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