Market News
US Excess and Surplus Market Poised for Profitable Underwriting Year
Strong demand and a continued favorable pricing environment are expected to produce a second consecutive year of direct underwriting profit for the US excess and surplus (E&S) insurance market, according to Fitch Ratings. The rating agency reported that nearly all E&S lines are reporting double-digit growth in direct written premiums. Read More
Insurers, Buyers Benefit from Generally Stable, Predictable Market
Property-casualty insurers reported strong results during this year's second quarter as they benefited from continued growth in net written premiums and investment income, according to the latest quarterly "Lockton Market Update." Meanwhile, a resilient US economy has made the property-casualty insurance market relatively predictable for buyers across most lines. Read More
US Commercial Auto Insurers See Return to Pre-Pandemic Struggles
After posting near break-even results in 2021, the US commercial auto insurance segment saw its underwriting losses climb to $3.3 billion in 2022, according to A.M. Best. Best noted that commercial auto insurance has been one of the property-casualty industry's worst-performing lines of business since 2012. Read More
Guernsey SPV at Heart of New Disaster Response Financing Mechanism
The International Federation of the Red Cross and Red Crescent (IFRC), in collaboration with Aon, Lloyd's Disaster Risk Facility, and the Center for Disaster Protection, has launched an innovative disaster response risk transfer mechanism using a Guernsey special purpose vehicle (SPV). Read More
2023 Seen as Transition Year for US Property-Casualty Profitability
This year will likely be a transition year for the US property-casualty insurance industry's profitability, as the industry moves from a difficult 2022 to a stronger 2024 as higher premiums and increased interest rates improve industry results, according to Swiss Re. Read More