Trending News & Highlights |
| Median return on equity in 2024 was slightly lower in reinsurance than in 2023, but overall better than for the past decade, according to a new Best's Market Segment Report. Helen Andersen, industry research analyst, AM Best, outlines the research.
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| Reinsurers and industry leaders interviewed by AM Best TV at the Rendez-Vous de Septembre in Monte Carlo said excess capital and softening rates will test whether the industry can maintain pricing discipline after two-plus years of strong profitability.
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| AM Best's Ricardo Rodriguez Perez and Inger Rodriguez discuss new research that finds increased capacity offerings and offshore reinsurance interest in the Latin America, despite $1.5 billion in insured losses from 26 natural catastrophic events in 2024.
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| Growth momentum in the excess and surplus market is generating optimism among market participants who see boosts from cooperation among delegated authority and program management entities, as well as artificial intelligence.
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| QBE Insurance Corp. has filed with the California Department of Insurance seeking to nonrenew thousands of homeowners policies as part of a move it said would see it exit the coverage nationwide.
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| Many of its competitors are losing a competitive edge by casting an overly large distribution net, according to Hanover Insurance Group Inc. President and Chief Executive Officer John "Jack" Roche.
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| New York Life Insurance Co. said it plans to combine its general account and third-party asset management businesses to create a single global platform with approximately $785 billion in assets under management.
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| Sun Life Financial Inc. sees extra potential in Indonesia as the company finds growth in the larger Asia market, Chief Financial Officer Timothy Deacon said.
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| Total U.S. annuity sales of $119.5 billion in the second quarter were up 8% from the same period a year earlier and the first half of the year set a new record, according to LIMRA's Individual Annuity Sales Survey.
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| Canadian individual life insurance new annualized premium grew 5% to C$532 million ($384.6 million) in the second quarter of this year and the number of policies sold grew 1%, according to LIMRA's Canadian Individual Life Insurance Sales Survey.
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| JAB Insurance has completed its acquisition of Prosperity Life Group from Elliott Investment Management, a transaction it said will add a unit with 1 million policyholders and nearly $30 billion in assets.
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| Corebridge Financial Inc. Chief Executive Officer Kevin Hogan will step down later this year, and Marc Costantini will become CEO effective Dec. 1, the company said.
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| Ryan Specialty formed a collateralized reinsurance vehicle with help from Axis Capital to bring about $900 million of capacity to Ryan Specialty Underwriting Managers' portfolio of syndicated delegated authority property/casualty insurance business.
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| Berkley Insurance Co. is suing a policyholder's service provider to recoup a $1 million cyber-theft loss attributed to a compromised email.
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| Four top executives are leaving USAA amid restructuring.
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| BlueCross BlueShield of Tennessee is eliminating nearly 125 positions to address sharply rising claims costs while the legislative and regulatory environment is contributing to major enrollment challenges, it said.
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| CUMIS General Insurance Co. plans to start exiting home and automobile insurance in Alberta at the start of the year, pinning the decision on continued challenges in the province's auto market.
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| Mapfre is investing in Blue Marble, an insurtech backed by an international insurance consortium that seeks to close the protection gap for climate-vulnerable communities.
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| Insurance platform Apollo said it received in-principle approval from Lloyd’s to establish Apollo ReShare Syndicate 1972 to provide follow-only capacity on outward reinsurance programs for Apollo managed syndicates.
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| Ariel Re said it gained in-principle approval from Lloyd's to establish a new syndicate, allowing the reinsurer to separate its Lloyd's business into two syndicates.
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| Pro MGA Global Solutions said it launched managing general underwriter Orb Specialty, which is designed to connect managing general agents within its incubation network to capacity.
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| Marine mutual insurer Skuld posted a higher fiscal first-half member balance on improved underwriting and investment results despite ongoing geopolitical and economic uncertainties.
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| Major insurers and brokers are backing the launch of The Spark, an insurtech platform, which calls itself "the world's first global prevention lab" designed to transform the industry from a reactive to a preventive market.
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| National Association of Insurance Commissioners leaders are asking federal lawmakers to quickly act to extend enhanced Affordable Care Act premium tax credits, which are set to expire at the end of this year.
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| The U.S. Internal Revenue Service's final rule on abusive microcaptives is about disclosure of transactions that meet certain requirements and is not designed to limit access to these types of insurance arrangements, according to the latest legal filing in a lawsuit challenging the rule.
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| Distressed long-term care insurer Senior Health Insurance Co. of Pennsylvania, its rehabilitator and the former Pennsylvania insurance commissioner were found in contempt of court over policyholder mailings that violated a temporary injunction blocking the company's rehabilitation plan.
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| Although GLP-1 weight loss drugs are drawing attention due to quick uptake and high costs, the impact on health insurers' spending was limited due to manufacturer rebates, according to a study from the Delaware Department of Insurance.
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| F&G Annuities & Life Inc. Chief Executive officer Chris Blunt said the carrier in coming years will shift its business mix to focus more heavily on distribution rather than holding assets fully on its own balance sheet.
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Research |
The U.S. property/casualty (P/C) industry recorded $11.2 billion in net underwriting income in the first half of 2025, a significant improvement from the $2.9 billion posted in the same prior-year period, according to a new AM Best report.
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Total U.S. surplus lines direct premiums written (DPW) reached another record level at nearly $130 billion with a year-over-year increase of 12.3%, notching the seventh straight year of double-digit premium growth for non-admitted insurers, according to a new AM Best report.
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A composite of top global reinsurers appears headed toward meeting their cost of capital in 2025, unless the market experiences an additional $16 billion in net reinsurance losses between now and year end, according to a new AM Best report.
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Although insurance penetration in Latin America remains low, the demand for reinsurance capacity is strengthening owing to a wide variety of natural perils
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AM Best has released newly updated tables of net capital charges associated with a representative sample of transactions from Fannie Mae and Freddie Mac’s credit risk transfer (CRT) programs—Freddie Mac’s Agency Credit Insurance Structure (ACIS) and Fannie Mae’s Credit Insurance Risk Transfer (CIRT). These tables also highlight some of the key components of the factor-based method used to calculate net capital charges in the Best’s Capital Adequacy Ratio (BCAR) model.
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Aging populations and increased health care needs across developed and emerging markets have contributed to the growth of global health reinsurance in recent years, according to a new AM Best report. However, the increased usage of health reinsurance has been driven by greater claim costs, including more high-dollar claims in the United States, combined with increased utilization.
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Lloyd’s reinsurance business has grown strongly in recent years, with a five-year compound average growth rate of 9%. Specialty reinsurance was the fastest growing line with a five-year compound average growth rate of 11%. In 2024, the market’s reinsurance premiums grew by 8%, driven by material growth in property and specialty lines, and benefitting from a positive risk-adjusted rate change along with low-single digit economic inflation. However, a minor contraction was noted for casualty reinsurance in 2024 despite pricing improvements, largely driven by performance pressures for this line, according to a new AM Best report.
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U.S. private mortgage insurers continue to cede a meaningful portion of their premium to reinsurance, with the usage of unaffiliated reinsurance expanding considerably, according to a new AM Best report.
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A composite of AM Best-rated U.S. and Bermuda reinsurers continued its trend of favorable underwriting results in 2024 while generating its fourth consecutive year of underwriting profitability, according to a new AM Best report.
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Rankings |
| The U.S. property/casualty long-term care industry's direct premium written declined 3.2% in 2024 to $625.1 million, according to a new Best's Rankings report.
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| In 2024, most U.S. property/casualty insurers writing Medicare supplement coverage saw direct premiums written decline, except for Chubb INA Group and State Farm Group, according to a new Best's Rankings report.
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