Market News

Independent insurance company manager Strategic Risk Solutions (SRS) has launched its latest alternative risk transfer venture, Altitude, a new managing general underwriter (MGU). SRS described the creation of the new MGU as a strategic move aimed at expanding the company's client services portfolio. Read More

Don't miss the November issue of "Captive Insurance Company Reports" ("CICR"), which explores how artificial intelligence (AI) in combination with captives, parametric insurance, and insurance-linked securities holds the potential to offer new and more effective ways of addressing risks. Read More

Global commercial insurance prices increased 3 percent during this year's third quarter, the same increase as in the prior quarter, according to the Marsh Global Insurance Market Index. The third quarter marked the 24th consecutive quarter in which composite commercial insurance pricing increased, Marsh said. Read More

Private workers compensation insurers' net written premium increased 11.3 percent in 2022 from the prior year to $42.5 billion, according to the National Council on Compensation Insurance (NCCI). Including state workers compensation funds, the 2022 net written premium was $47.5 billion, the NCCI said. Read More

Citing "2 years of sustained hard work and engagement, both locally and internationally," Cayman Islands officials embraced the Financial Action Task Force's (FATF) removal of the jurisdiction from its anti-money-laundering "grey list." The FATF placed the Cayman Islands on the list in 2021. Read More