Florida Domestic Insurer Market Update – December 2024
In this article, we discuss how recent legislative reforms and improved market conditions have helped stabilize Florida’s homeowners insurance market, attracting new insurers and improving financial performance.
ALIRT Research – U.S. Medical Professional Liability Market Overview
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Porch Group Throws In The Towel on Homeowners of America Insurance Company
This article explains Porch Group’s shift from a full-stack insurance approach, marked by ongoing financial challenges with Homeowners of America Insurance Company, towards launching a reciprocal exchange, Porch Insurance Reciprocal Exchange (PIRE), to reduce its direct exposure to claims and stabilize its insurance operations.
Mortality for the Life Insurance Industry in 2023
In this review we highlight the increase in mortality and its continued impact on the U.S. life insurance industry.
P&C Mutual Insurance Market Overview
In the following review we provide an update on the state of the P&C mutual insurance market based on 6 months 2024 financial results.
ALIRT Scores Vs. A.M. Best Ratings – A Comparative Study for the U.S. P&C Industry
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U.S. Life Insurers’ Bermuda Reinsurance Exposure
The U.S. Life Insurance Industry has long utilized foreign reinsurance as part of its risk and capital management strategies. In recent years the use of foreign reinsurance (particularly via Bermuda reinsurers) has become increasingly common among life insurers (especially for those issuing individual annuities), which has raised some questions among industry participants. As seen in the table below, Bermuda was by far the largest non-U.S. reinsurance destination for U.S. life insurers and accounted for just over a third of total ceded life insurance and annuity (L&A) reserves1 at year-end 2023.
U.S. Surplus Lines – 2024
A.M. Best recently released its annual review of the surplus lines industry which it has published for the last three decades. ALIRT uses this opportunity to refresh its own 50 Company Surplus Lines Composite, both to corroborate what others in the industry are seeing as well as to provide an update as of the 6 Month 2024 reporting period for this important and growing sector of the industry.
ALIRT Update: Residual Market Trends in Four Higher Catastrophe Risk States
This article is about the recent trends and developments in residual market mechanisms within the property insurance industry in four high-risk catastrophe states: California, Florida, Louisiana, and Texas, highlighting the challenges and reforms faced due to increased weather-related losses and market instability.
American Mobile: The Short Life of a Reciprocal Insurance Exchange
This article discusses the brief history of the American Mobile Insurance Exchange (AMIE), a small insurer focused on mobile home insurance in Florida, and the factors leading to its administrative supervision and eventual run-off in 2024. Key points include the rapid rise and challenges of the reciprocal insurance exchange model, the involvement of private equity, and the impact of high reinsurance costs and inadequate coverage on AMIE’s financial stability.