Market News

Latin American reinsurers are expected to continue their strong performance into 2025, driven by disciplined market conditions and favorable underwriting results. While rising competition and macroeconomic risks remain, the region's insurers benefit from increased premiums, stable retention rates, and manageable catastrophe-related insured losses. Read More

Deloitte's 2025 outlook highlights the challenges facing property and casualty insurers, from inflation and natural catastrophes to geopolitical risks. The report also emphasizes the growing role of artificial intelligence and technology in improving risk modeling, underwriting, and customer service, pushing insurers to modernize and innovate their operations for long-term resilience. Read More

Reinsurers are expected to push for double-digit US casualty rate increases in January 2025 renewals, driven by escalating loss costs and social inflation. Fitch Ratings highlights that reinsurers may also tighten cover limits and reduce commissions, as legal risks and reserve deficiencies impact the market. Tort reform remains a low policy priority. Read More

Alex Gedge of Hylant explores how captive insurance is being used to manage the growing risks of wildfires. Captives provide businesses tailored financial protection, reinsurance options, and a strategic way to mitigate evolving wildfire threats, while accumulating valuable data to improve risk management over time. Read More

Cayman's insurance sector continues its growth with 29 new licenses issued by Q3 2024. The Cayman Islands now hosts 696 insurers, driven by strong interest in captive insurance and reinsurance. The Cayman Islands Monetary Authority expects further expansion in the final quarter, fueled by new applications and a strong business pipeline. Read More