Market News
Captive Insurance: A Strategic Response to Market Dynamics
A.M. Best's webinar detailed the robust performance of captive insurance companies, emphasizing their growth and adaptability during a hard market. Industry experts discussed the increasing role of captives in innovative risk management solutions, underscoring their importance in today's challenging insurance landscape. Read More
Growing Use of MGAs Supports Reinsurance in Latin America
Latin American reinsurers benefit from gross domestic product growth but face capacity issues, particularly after Hurricane Otis. The increasing use of managing general agents (MGAs) is helping to support the market, filling gaps left by global reinsurers and aiding in risk management across the region. Read More
Risk Retention Groups (RRGs): Achieving Success Across Sectors
Risk retention groups (RRGs) provide essential insurance in sectors where traditional insurers fall short. The Recreation RRG, for instance, addresses the unique needs of recreational sports. RRGs focus on stability, safety, and risk management, offering sustainable solutions for their members and ensuring availability where coverage is hard to find. Read More
Dedicated Reinsurance Capital Grows 7 Percent Amid Hard Market
Reinsurance capital rose 7 percent in 2023 to $568 billion, with further growth expected in 2024. Traditional capital increased significantly, particularly in Bermuda, while third-party capital saw modest gains, driven by catastrophe bonds and collateralized reinsurance, according to A.M. Best. Read More
Demand for Health Reinsurance Grows Amid Changing Global Trends
Global healthcare trends and rising medical inflation are increasing demand for health reinsurance. While premium growth has slowed recently, driven by segments like commercial and stop-loss, the market remains robust, particularly in emerging regions like Asia. Challenges include market saturation and high costs for comprehensive products. Read More