Risk retention groups reported strong premium growth of 7.1% in 2020 that took collective RRG premium to $3827.8 million. 2020 marks the tenth consecutive year of premium growth for the risk retention group industry and is one of the strongest years of premium growth since 2006, falling just behind the premium growth of 8.3% reported in 2019. Overall, 137 risk …
NFP Captives Unit Sees Growth in the Hardening Market
A new entrant in the alternative risk space, insurance broker NFP Corp., sees lots of potential for growth in captives and risk retention groups as segments of the market harden, according to Jonathan McKenzie, vice president of NFP’s Risk & Insurance Strategy Collective (RISC). Parent company NFP sees alternative risk “as a component of their continued growth in 2021 and …
Are RRGs Due for a Rebound?
By Jon Harkavy, Of Counsel, Risk Services Attempting to speculate as to current trends and future of RRGs in 2021 is no easy task. The usual market barometers involved; premium volume and the number of RRGs formed, have been skewed by the pandemic and are not particularly useful for any predicative market analysis. RRG premium continued to grow in 2020, …