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Heightened frequency and severity of US auto claims were the driving force behind deteriorating underwriting performance at two of the largest writers of the business last week, forcing remedial action on rates to catch up with loss trends.
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Shares in Florida insurer Heritage traded down 19 percent at the end of last week as jittery investors reacted to a more cautious outlook on growth and the filing of a $400mn shelf registration.
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Underwriting performance for the P&C reinsurance operations of global reinsurers generally improved during the second quarter as the group benefited from another period of benign natural catastrophe loss activity.
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Bermudian (re)insurers experienced a volatile second quarter as a number of non-cat losses dented underwriting performance.
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Share price data on The Insurance Insider's universe of P&C (re)insurers
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The Insider 30 made a 6.44 percent gain in July as M&A fever continued to grip the P&C (re)insurance sector
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With the RSA board allowing it to leak out to the market that its price expectations for the UK insurer are £6 per share or more, the company is at risk of pricing itself out of a deal.
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China Minsheng Investment (CMI)'s unexpected acquisition of reinsurer Sirius for upwards of $2.2bn highlights the potentially transformative impact that an influx of Chinese money could have on the global (re)insurance sector.
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Exor and its bankers played their hand masterfully by grinding PartnerRe's obdurate board into eventual submission and forcing Axis Capital to give in, its first-mover advantage long since played out.
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Reinsurance organic growth went into reverse at the big three broking houses during the second quarter as underlying reinsurance revenues declined modestly amid increasing market pressures.
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Richard Brindle, the founder and former CEO of Lancashire, got the market talking again last year when it emerged he was set to return with a new project, Fidelis
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Softening market conditions continued to encroach upon the US commercial P&C insurance market during the second quarter, according to The Council of Insurance Agents & Brokers (CIAB)
