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Global reinsurers posted slower gross written premium (GWP) growth in their P&C reinsurance divisions in the fourth quarter, as attractive new business became increasingly scarce in the soft market cycle.
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AmTrust has again found itself in the crosshairs of the plaintiff bar after an accounting error forced it to postpone the release of its full results filing for 2016 and restate its results for the past three years
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Outgoing CEO Peter Hancock will receive a lump sum of more than $14.5mn upon leaving AIG, in addition to his base salary and potential bonuses for 2017.
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Hard market pockets are emerging in the US trucking and transportation reinsurance market as deteriorating underlying results lead treaty underwriters to take a tougher stance on new and renewal business, The Insurance Insider can reveal.
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As insurers lick their wounds after an unexpectedly sharp cut to the UK Ogden rate, it may come as a surprise that auto carriers outperformed last week as the rest of the sector lagged behind the wider market.
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Lloyd's carriers posted shrinking returns in the second half of 2016 compared to the same period of the year before, after being dragged down by falling underwriting margins.
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The average combined ratio for The Insurance Insider's composite of Lloyd's carriers swelled by 9.6 percentage points year-on-year to 95.1 percent in the second half of 2016.
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London's leading P&C insurers broadly tempered their top-line growth in 2016, with many carriers forced to look outside of their Lloyd's book to boost profitability.
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The Bermuda composite's operating return on equity (RoE) declined by a third to 5.8 percent in the final quarter of 2016.
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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 composite of (re)insurance stocks rose 2 percent last week, but underperformed the FTSE 100, Stoxx Euro 600 and S&P 500
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Bermudian carriers recorded heavy cat losses in the fourth quarter of 2016 to take the group's combined ratio 6.1 percentage points higher year-on-year to 93.9 percent.