2017 July Risk Retention Reporter Headlines and Article Excerpts

TNCRRG Names Dennis O’Hara as CEO to Replace Michael Bemi

The National Catholic Risk Retention Group (TNCRRG) has appointed a new president and chief executive officer to succeed Michael J. Bemi, who is retiring after almost 18 years leading the Lisle, Illinois-based RRG. TNCRRG provides liability insurance to Catholic dioceses, religious institutes, and related entities...

Special Report: State Survey of RRG Regulation

This month’s special report is the Risk Retention Reporter’s annual State-by-State Survey of Risk Retention Group Regulation. Each year the Risk Retention Reporter surveys states on issues pertinent to RRG regulation such as registration fees and the tax rate. The report, which is included in its entirety, begins on page 6...

RRR Preview of Fall Captive Conferences

The National Risk Retention Association (NRRA) will be holding its annual conference from September 26-28, 2017 at the Sofitel Chicago Magnificent Mile in Chicago, Illinois. The theme for this year’s conference is “Business to Business: The NRRA Edge,” and the focus of the conference will be enhancing networking between RRG/PG company leaders and the service providers, vendors, and regulators with whom they do business...

Reinsurance Cessions for RRGs Up in 2016

Reinsurance cessions for risk retention groups increased by 3.2% to $1,278.5M in 2016, closely mirroring RRG premium growth which increased by 2.1% to $3,090.3M in 2016. As a result, the overall cession rate for RRGs was relatively flat increasing to 41.4% from 41.1% in 2015. The 2016 reinsurance results continue the trend of stability that has emerged since the significant declines in cessions that occurred in 2014...

Few Changes to Top Captive Managers by Premium in 2016

There were few changes to the top captive managers by premium in 2016. No new captive managers entered the top ten, and there were few changes to positional rankings. The most significant change was the continued shift of premium to the top ten captive managers. In 2015, captive managers falling outside of the top ten accounted for 20.5% of RRG premium, that figure fell to 16.1% in 2016...

Risk Retention Roundup

This month no new risk retention groups were added to the Risk Retention Reporter listings, and no RRGs were deleted, leaving the total number of RRGs at 229. One new purchasing group was added to the Risk Retention Reporter listings and no PGs were deleted, taking the total number of PGs up to 991...

More RRGs Carry Ratings in 2016, Despite Downgrades for Some RRGs

As of June 2017, 64 risk retention groups carry a rating from either A.M. Best or Demotech, Inc., an increase from the 63 RRGs carrying ratings from those entities in 2016. The number RRGs carrying a rating from Fitch held steady at two. While there was some deterioration in ratings for RRGs in 2017, with multiple groups receiving downgrades, the majority of RRGs maintain strong ratings...