Bermuda will continue to be a key international hub for reinsurance despite being challenged in recent years, most recently by tax reform in the United States, which fundamentally changed how multinational entities are taxed. How the territory’s market has responded …
In the absence of a Brexit trade deal between the United Kingdom and the European Union, insurers in the UK have accelerated their plans to establish new EU subsidiaries and ensure business continuity after Brexit, according to a report published …
While the balance sheets of clubs operating in the marine protection and indemnity (P&I) sector are generally strong, underwriting discipline will be tested over the February 2018 renewal period, according to a report by A.M. Best. Intense competition, exacerbated by …
Flooding in the final month of 2015 will put pressure on the earnings of U.K. property insurers, according to a briefing published by A.M. Best. Initial estimates of combined insured losses from Storm Desmond, which hit the United Kingdom on …
A special report from A.M. Best concludes that “Italy’s insurance market remained buoyant in 2014 and is well-placed to continue to grow in 2015, driven by demand for life products.” Best foresees a “second consecutive year of double-digit expansion in …
Spain’s insurance market has continued to show resilience, with companies focusing on profitability as the country’s economy showed further signs of recovery, according to a new report from A.M. Best, entitled – “Sticking to the Basics Ensures Resilience of the …
The property insurance market in Florida has significantly shifted in market share as Citizens Property Insurance Corp. (Citizens)—the state-run property insurance company—continues to depopulate and move policyholders to the private market, which has increasingly seen the emergence of newly formed, …
The Caribbean general insurance market remains profitable, albeit challenging, for participants, according to an A.M. Best special report titled “Caribbean-based General Insurers: What Lies Ahead?” The report says that the region is susceptible to major storm damage, earthquakes and flooding, …
A.M. Best has released a briefing exploring the recent wave of merger and acquisition (M&A) activity in the global reinsurance industry and how it reflects on reinsurance companies’ “desire for scale to maintain relevance amid challenging market conditions.” Briefing, titled, …
Heightened geopolitical tensions spilling over from the Russia-Ukraine crisis, high interest and inflation rates, and low commodity prices are placing pressure on Russia’s economy and its insurance industry’s prospective growth, according to an A.M. Best special report. A.M. Best believes …
