Published: September 2022
AM Best TV & Audio: LIMRA: Fraud, Financial Crimes on the Rise in Life Insurance, Annuity, Retirement Sectors: Also, industry professionals discuss ESG and natural catastrophe recovery, global resilience and wildfire risk.
AM Best Webinars: Panel to Discuss the State of the Surplus Lines Sector: Professionals also examine the captive insurance market as well as explore emerging cyberrisks and telematics.
App Store: App Helps Empower Households to Manage Insurance, Risk: Marble provides a platform for people to earn rewards for protecting their property.
Asset Management: Private Placements Likely to Remain in US Insurers’ Portfolios Despite Rising Rates: Direct lending outside the publicly traded realm of corporate bonds found greater favor amid low interest rates. Don’t look for that to change overnight as the Federal Reserve enacts inflation-fighting increases. Lack of trading opportunities, diversification and investment patterns may make it a crawl rather than a rush for the door.
At Large: The Curious Case of Hypermature Markets: Insurers in these markets must accept competition.
Best's Rankings: Top 25 US Life/Health Mutual Insurers — 2022 Edition: Insurers ranked by 2021 admitted assets.
Best's Rankings: Top 25 US Property/Casualty Mutual Insurers — 2022 Edition: Insurers ranked by 2021 net premiums written.
Best's Rankings: Top 25 Writers — US Private Flood — 2022 Edition: Writers were ranked by 2021 direct premiums written.
Best's Rankings: Top 50 Global Reinsurers — 2022 Edition: The reinsurers were ranked by unaffiliated gross premiums written in 2021.
Best's Rankings: US Life/Health — 2021 Ordinary Life Average Policy Size and Lapse Ratios — 2022 Edition: Insurers ranked by 2021 ordinary life business issued.
Best's Rankings: US Life/Health — Group Life In Force — 2022 Edition: Insurers ranked by 2021 group life business in force.
Best's Rankings: US Life/Health — Group Life Issued — 2022 Edition: Insurers ranked by 2021 group life business issued.
Best's Rankings: US Life/Health — Ordinary Life In Force — 2022 Edition: Insurers were ranked by 2021 ordinary life business in force.
Best's Rankings: US Life/Health — Ordinary Life Issued — 2022 Edition: Insurers were ranked by 2021 ordinary life business issued.
Best's Rankings: US Life/Health — Term Life In Force — 2022 Edition: Insurers were ranked by 2021 term life business in force.
Best's Rankings: US Life/Health — Term Life Issued — 2022 Edition: Insurers were ranked by 2021 term life business issued.
Best's Rankings: US Life/Health — Total Life In Force — 2022 Edition: Insurers were ranked by 2021 total life business in force.
Best's Rankings: US Life/Health — Total Life Issued — 2022 Edition: Insurers were ranked by 2021 total life business issued.
Best's Rankings: US Multi-Peril Crop — Top 20 Carriers — 2022 Edition: Carriers were ranked by 2021 multi-peril crop direct premiums written.
Book Store: Author: Pandemic Has Changed How Agents and Brokers Sell: Rain Group’s Andy Springer said buyers prefer the digital landscape because they can control that environment.
Corporate Changes: Mergers, Acquisition, State Action and Name, Ownership and Domiciliary Changes: American Physicians Assurance Corp., Michigan Complete Health and Access Home Insurance are among the life/health and property/casualty insurers that have experienced a corporate change.
Executive Changes: Convex Group Promotes Deputy Chief Executive Officer to Group CEO: Allianz Holdings and Hiscox each welcomes a new COO and former Prudential plc CEO comes out of retirement to join Athora.
From the Editor’s Desk: Mutual Snapshot: Select Life, PC Insurers Post Double-Digit Growth: The September issue includes rankings of the largest life and P/C mutuals, a ranking of the top U.S. private flood insurers, top global reinsurers and leading U.S. life/health writers. Asset management is also a focus.
In the News: Life Insurers Ramp Up Plans to Address ‘Social Infrastructure’: Companies involved in the program will start by focusing on affordable and workforce housing.
In the News: Regulatory Update: South Carolina court issues business interruption ruling and New Jersey governor signs new auto insurance legislation.
Industry Updates: California Regulator Puts Auto Insurance Rate Approvals on Hold: Auto insurers warn consumers will be left without coverage.
Industry Updates: Irish Central Bank Launches Consultation on Climate Risk for Insurers: According to the bank’s 2021 survey, only 20% of insurers and reinsurers fully integrated climate-change risk in their risk management framework.
L/H Mutual Insurers: US Mutuals Find Stability Key Amid Turbulence Following a Good 2021: Penn Mutual Life Insurance Co. led its mutual peers in growth of 2021 admitted assets. See the Best’s Rankings list of the Top 25 US Life/Health Mutual Insurers – 2022 Edition.
Life Insurance: Total Life Issued Down in 2021; Ordinary Life Climbs in Mixed Year: Looking back, 2021 was a year in which COVID-19 mortality was up, then down, then up again. Life insurers brought in some new customers. And it was a year in which market volatility and inflation started to rear their heads for the first time in recent memory. See the Best's Ranking's lists of the top 25 U.S. life/health insurers — 2022 Edition.
National Flood Insurance Program: Republican Senators Offer One-Year NFIP Extension Bill: The Biden administration earlier this year gave Congress 17 proposals to reform the NFIP, including measures to end NFIP coverage to properties that repeatedly flood and take other steps. See Best's Ranking's list of the top 25 writers — U.S. private flood — 2022 Edition.
P/C Mutual Insurers: Expansion Spurs Growth for US P/C Mutuals Moving Up the Charts: Three property/casualty mutual insurers identify the keys to their increases in business. See the Best’s Rankings list of the Top 25 US Property/Casualty Mutual Insurers – 2022 Edition.
Preferred Publisher Program: In Other News ...: A roundup of news from publishers around the globe. Access to some sites may require registration or subscription.
Regulatory/Law: Lead Paint Litigation Raises Coverage Questions for Policyholders: A recent California decision tackles one issue: Is a public nuisance claim based on the willful acts of the insured’s predecessor barred from coverage?
Risk Adviser: It’s Time for Life Insurers to Go on Offense After COVID-19: The pandemic showed consumers the importance of life insurance, creating an opportunity for insurers to make a play to close the coverage gap and bring financial protection to more people.
The Last Word: From Baritone to Boardroom: MetLife Executive’s Overture Was on the Opera Stage: Before he was the executive vice president and chief marketing officer at MetLife, Michael Roberts enjoyed a brief opera career.
Trending Research: Trending Research Includes Reports on Mortality Risk, the US Cyber Market and Florida Property Insurers: Other trending research covers reports on hedge funds, Japan’s life market and embedded insurance.
Underwriting & Loss Control: Tennis, Anyone? How Insurance Can Be a Major Player in the Game: Best’s Underwriting Reports and Best’s Loss Control Reports provide insight into the lines of coverage, exposures and loss control for tennis clubs.
Web Traffic: Visits to Top Life/Health US Mutual Insurance Writers' Sites: State Farm Life Group leads web analytics provider Semrush's ranking of life/health mutual insurers.
What AM Best Says: AM Best: Premiums Surge for US Crop Insurers: For crop year 2021, the multi-peril crop insurance program covered more than 444 million acres, with an estimated value of more than $150 billion. See Best's Ranking list of U.S. multi-peril crop's top 20 carriers — 2022 edition.