Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Reinsurance Price Drops Moderating? Yes and No, Say Rating Agencies
Sep 1 2015 // Two of the property/casualty insurance industry’s ratings entities – Fitch and Standard & Poor’s – do not see eye-to-eye on whether reinsurance price declines are moderating. Fitch sees the downward...
Hurricane Katrina: The Numbers Tell Their Own Story
Aug 26 2015 // In a 25-year span leading up to 2005, homeowners insurers in Louisiana wrote a total of $13 billion in homeowners insurance premium, from which they earned $1 billion in profit, according to the chief actuary at the state...
Fitch: Downward Pricing Pressures in Reinsurance Market Begin to Slow
Aug 25 2015 // The reinsurance market showed signs of decelerating rate declines in its most recent June/July 2015 renewals, indicating that pricing could be approaching a new equilibrium, says Fitch Ratings in a new global sector...
8 Ways Katrina Changed Commercial Property Insurance
Aug 21 2015 // Hurricane Katrina, which devastated New Orleans 10 years ago, is responsible for a number of changes in the commercial property insurance market. According to Rick Miller, U.S. property practice leader at Aon Risk...
ILS Puts Reinsurance Market on a New Course: Twelve Capital’s Butler Explains How
Aug 19 2015 // Zurich-based Twelve Capital is only five years old, but it, along with similar companies, has already fundamentally altered the reinsurance industry. It’s taken a remarkably short period of time for...
Progressive Insurance CEO on 5 Macro Trends of Note
Aug 19 2015 // By his own admission Progressive Insurance CEO Glenn Renwick (and his company) may not be right about the impact certain macro trends will have on the insurance industry, but in his view “it’s important to have...
Progressive CEO Renwick’s 5 Macro Trends of Note
Aug 17 2015 // By his own admission Progressive Insurance CEO Glenn Renwick (and his company) may not be right about the impact certain macro trends will have on the insurance industry, but in his view “it’s important to have...
10 Years After Katrina/Rita Louisiana Citizens’ Market Share at 1.8%
Aug 12 2015 // The market share of Louisiana’s property insurer of last resort — Louisiana Citizens Property Insurance Corp.— has declined from 9.8 percent to 1.8 percent in the 10 years after back-to-back Hurricanes Katrina...
Louisiana to Host Post-Katrina/Rita Insurance Market Summit
Aug 7 2015 // The Louisiana Department of Insurance is hosting an event to discuss the property/casualty insurance market as the state marks the 10 years that have passed since Hurricanes Katrina and Rita caused more than $28 billion in...
Berkshire Hathaway Specialty Enters Marine Insurance Market in Australia & N.Z.
Aug 4 2015 // Berkshire Hathaway Specialty Enters Marine Insurance Market in Australia & N.Z Berkshire Hathaway Specialty Insurance Company (BHSI) announced that it has begun underwriting Marine Insurance in Australia and New...
OneBeacon Sells Crop Agency to Amtrust, Exits Crop Insurance Market
Aug 3 2015 // OneBeacon Insurance Group is exiting the crop insurance business. The Bermuda-domiciled insurance holding company made it official with the sale of its exclusive managing general agency – Climate Crop Insurance Agency...
Progressive CEO Renwick’s 5 Macro Trends of Note
Aug 3 2015 // By his own admission Progressive Insurance CEO Glenn Renwick (and his company) may not be right about the impact certain macro trends will have on the insurance industry, but in his view “it’s important to have...
The Myth of the Tech-Savvy Millennial
Aug 3 2015 // The idea that Millennials have superior tech skills and knowledge is something that has been an oft-repeated fact, both in the insurance industry and in our national consciousness. It makes sense; Millennials are the first...
Insurers Unprepared for Self-Driving Car Disruption: KPMG
Aug 3 2015 // The majority of property/casualty insurers do not expect autonomous or self-driving vehicles to have a real impact on their auto insurance business for another decade and have not adjusted their business models to prepare...
Best Analyzes Changes to Brazilian Local Reinsurance Market
Jul 31 2015 // A.M. Best has released a new briefing focusing on the National Council of Private Insurance issuance of CNSP Resolution CNSP No. 322, which decreases the amount of premiums that Brazil’s local insurers must...
MMC CEO Glaser Surveys Competitive Landscape in Wake of Consolidation
Jul 29 2015 // Recent merger deals in the insurance industry among its competitors and carrier partners should not hurt Marsh & McLennan (MMC) and could instead make its insurance and reinsurance advisory services even more...
Insurers Warned to ‘Think Before You Snap’ as Florida Drone Privacy Law Takes Flight
Jul 29 2015 // The new Florida drone privacy law could have some unintended consequences for insurers looking to use or insure unmanned aircraft systems (UAM) technology. The Freedom from Unwarranted Surveillance Act (FUSA), which took...
Lloyd’s Supports Natural Catastrophe Resilience Plan Across Asia
Jul 28 2015 // As he prepared to sign a Statement of Intent (SOI) between the British Government, the Monetary Authority of Singapore and Lloyd’s in Singapore, UK Prime Minister David Cameron stressed that insurance is essential to...
How P/C Insurance Industry Fared in First Quarter
Jul 21 2015 // The U.S. property/casualty insurance industry managed to improve its underwriting results and attain higher net investment income to produce a 12.9 percent increase in pre-tax operating income in the first quarter of 2015...
Global Reform of Tax Systems to Hit Insurance Industry: London’s IUA
Jul 20 2015 // A sweeping global reform of tax systems is under way and will have profound implications for the insurance industry, the London-based International Underwriting Association has warned. Responding to public concerns about...
