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Underwriting performance in The Insurance Insider's US specialty composite deteriorated in the three months to 31 December for the first time in the past five years.
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Despite intense market competition and rate declines, US specialty carriers found areas where they believed they could grow profitably in the fourth quarter of 2016. The carriers wrote 4.8 percent more business year-on-year.
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Declines in global insurance rates moderated throughout 2016 amid early signs of capacity withdrawal and rising combined ratios, according to Marsh.
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The brokerage sector felt the impact of the soft market in the fourth quarter, with two of the three leading P&C (re)insurance brokers all posting slower organic growth than a year earlier.
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With the regular Florida legislative session due to convene in three weeks, industry lobbyists are pushing hard for reforms to address the assignment of benefits (AOB) water claims crisis in the state.
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AIG is under pressure to address key questions when it releases its fourth-quarter results later today.
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Specialty insurer Ironshore is likely to significantly curtail its use of reinsurance following its sale to Liberty Mutual
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Share price data on The Insurance Insider's universe of P&C (re)insurers
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The Insurance Insider's index of (re)insurance stocks again outperformed the wider European and US markets last week as investors reacted to the first fourth-quarter earnings reports
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Returns for the 2014 year of account (YoA) at Names-backed syndicates are expected to be better than forecast due to increased reserve releases, lower loss activity and a weakened sterling, according to research by Argenta.
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Investors were quick to react to insurers' fourth quarter earnings results, as outperforming the consensus estimates of Wall Street analysts generally drove shares higher, but there were some notable exceptions.
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The decline in favourable prior-year development continued in the fourth quarter, as further evidence emerged of reserving issues at individual US P&C players.