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April 2013/5

  • Weekly share price movements and key data on The Insurance Insider's universe of P&C (re)insurers and brokers
  • American International Group (AIG) has revealed how a pioneering scheme of arrangement was used as part of a major group restructure, despite advisers initially deeming it impossible.
  • The UK employers' liability (EL) and periodic payment order (PPO) markets are potential growth areas for legacy if regulatory and valuation issues can be overcome, UK run-off leaders predict.
  • London-listed Randall & Quilter (R&Q) and German run-off (re)insurer Darag have raised £25mn and EUR60mn respectively to power acquisitions in the legacy space.
  • One half of the UK's new financial services regulatory regime has already come under fire from the industry only weeks after it was officially launched.
  • Run-off to live group Randall & Quilter (R&Q) is set to become the latest UK-listed insurer to move offshore after announcing plans to redomicile to Bermuda due to regulatory and operational issues.
  • Only 16 percent of the Lloyd's market is yet to comply with Solvency II requirements three years ahead of the 2016 deadline, according to a recent directors' briefing.
  • The US Federal Insurance Office (FIO) has asked for (re)insurers' advice on the state of the catastrophe insurance market and the role that government can play to mitigate risk.
  • Prominent London market executive Michael Wade has been appointed as an expert adviser to the UK government to examine ways of producing efficiencies in the way the administration procures insurance products.
  • A handful of new special purpose insurers (SPIs) were registered in Bermuda in March, including Accordian (sic) Reinsurance II and Mona Lisa Re.
  • The first quarter results from Bermudian reinsurers Montpelier Re and Validus revealed an uptick in the property premiums written via their managed funds platforms, Blue Capital and AlphaCat.
  • Repeat insurance-linked securities sponsors Allianz and Travelers may pay just half the risk-adjusted premiums for their latest cat bonds compared to their 2012 iterations, according to analysis by our sister publication Trading Risk.