Significant shift toward customized insurance solutions fuels resilience and profitability amid evolving market dynamicsHARTFORD, Conn., Jan. 3, 2025 /PRNewswire/ -- The Excess and Surplus (E&S) insurance market has experienced unprecedented growth, achieving a remarkable 21% compound annual growth rate over the past five years and surpassing $104 billion in premiums in 2023. This sustained expansion underscores the market's resilience and adaptability, as it continues to outperform the admitted market by addressing complex, nonstandard risks that traditional insurers often reject."The E&S insurance market continues to exemplify resilience and innovation, navigating both cyclical and structural challenges with agility," said Lauryn Kothavale, a Vice President of Insurance Research at Conning. "Looking ahead, the growing demand for tailored coverage solutions highlights the sector's indispensable role in mitigating complex and evolving risks."The surge in demand for innovative and tailored insurance solutions has been a key driver of the E&S market's growth. Since 2017, a wave of new entrants has reinforced the sector's capacity to meet these challenges, demonstrating robust demand for its offerings. The market's ability to deliver bespoke coverage aligns perfectly with current trends, as policyholders increasingly seek customized solutions to address evolving risks.While the E&S market's growth has been impressive, it has not been without challenges

Average annual face amount of new life settlements to be some $5 billion per Conning's 19th annual market review/forecast. HARTFORD, Conn., Nov. 8, 2024 /PRNewswire/ -- Conning's newest report on life settlements finds that the market continues to attract a steady flow of capital, but that overall growth in the opportunity is outpacing the investment in the asset class. Conning's "Life Settlements: Steady On" is its 19th annual market review examining key forces fueling continued growth within the life settlement industry

HARTFORD, Conn., July 11, 2024 /PRNewswire/ -- In 2023, premium produced by Managing General Agents ("MGA(s)") continued to grow more rapidly than the property casualty market overall, continuing the significant growth trend experienced over the last two years. The estimated MGA premium written by U.S. insurance companies grew by 13%, while total property-casualty premium grew at 10%. Conning estimates that the total U.S. MGA market, including business written for the account of Lloyd's syndicates, exceeded $102 billion in direct premiums written in 2023."MGAs' success hinges on a combination of talent, technology, capital and market conditions. In 2023, these factors converged, driving sustained growth and resilience, and paving the way for further sector expansion," said Lauryn Kothavale, a Vice President for Insurance Research at Conning.By Conning's calculation, fronting companies accounted for more than $14 billion in premium written by MGAs in 2023, an increase of 27% over the previous year