Market News

Competitive US workers compensation state funds maintained market share with steady premium growth amid economic recovery. Despite underwriting losses driven by high policyholder dividends, the funds' appeal remains strong, especially in restricted markets, as businesses increasingly seek state fund options when private market coverage is limited. Read More

The October Ivans Index™ reported slight month-over-month declines in premium renewal rates for all major commercial lines. Key lines, including commercial auto, businessowners policy, general liability, commercial property, and umbrella, saw decreases, while workers compensation remained in negative territory with a continued rate decline. Read More

The global reinsurance market is expected to grow from $498.7 billion in 2021 to $1.34 trillion by 2031, with a 10.8 percent CAGR. Demand for property, casualty, and life reinsurance, driven by COVID-19 impacts, is fueling expansion, especially across the North America and Asia-Pacific regions. Read More

Lockton Re's report anticipates a stabilizing phase for US casualty reserves in 2025, as reserve demands from prior accident years ease. Improved reserve adequacy could influence pricing and market dynamics, particularly in excess casualty and directors and officers lines, with favorable impacts expected across various casualty segments. Read More

Aon's third-quarter 2024 report reveals $102 billion in insured global natural catastrophe losses, with total losses likely to surpass 2023 levels. The United States saw 26 billion-dollar events, while Canada experienced record insurance losses. Global reinsurer capital is expected to grow despite significant recent disasters. Read More