Best-rated captives in Bermuda, Cayman and Barbados outperform commercial casualty sector

Captive insurance companies in Bermuda, Cayman and Barbados rated by AM Best have outperformed the segment's counterparts in the commercial casualty sector, the rating agency said.  In 2018, net premiums earned by the captives surpassed $3.5bn for the first time. The reported pre-tax income of the AM Best's rated captive composite grew by 8.3% compared to the previous year to about $1bn. The combined ratio for the Bermuda, Cayman Islands and Barbados (BCIB) captive composite deteriorated slightly in 2018 by a percentage point to 85.2%; however, the five-year average CR of 80.8% was...