April 2014/3

The Insurance Insider's look-up table for all of the weekly, monthly and YTD share price movements of the companies in our updated composites

Takeover target Aspen's share price led the way early last week after The Insurance Insider revealed Endurance's interest in the firm on 14 April, which was later confirmed by the company

A US court has rejected an attempt by Standard & Poor's (S&P) to divide a fraud suit brought by the government, which alleged that the rating agency knowingly issued false ratings of securities that turned toxic.

There will be no jury trial in the acrimonious case brought by Aspen accusing a former executive vice president of an "orchestrated" attempt to lure its entire casualty team to rival Endurance.

The US terrorism risk market is finding it increasingly difficult to price insurance due to the recent uncertainty over the renewal of the Terrorism Risk Insurance Act (Tria).

With the 1 July implementation date of the US Foreign Account Tax Compliance Act (Fatca) fast approaching, experts at professional advisory firm EY have urged (re)insurers and brokers to ensure they have systems in place to accommodate the new regulatory demands.

Generali's Lion Re European wind bond is set to be one of a handful of cat bonds offering investors insurance premiums of less than 2.5 percent, sister publication Trading Risk understands.

Heritage P&C is highlighting Floridian insurers' willingness to buy more reinsurance cover amid falling prices, as it launches a new $50mn offering of its Citrus Re cat bond just days after pricing its first $150mn issuance.

The airline insurance market fell to a loss last year for the first time since 2010, a trend which is likely to continue this year as rates continue to fall.

Quindell, the insurance-focused UK software and consulting firm, today (22 April) said it was taking legal advice after a critical research note from investment website Gotham City Research sent its share price spiralling downwards

Aspen's banker Goldman Sachs has been quietly approaching other possible acquirers for the business as the company's board follows a twin-track approach to fighting off the unwanted attentions of John Charman's Endurance.

Lloyd's will support the development of new syndicate consortia as brokers reduce the number of carriers they deal with, the Corporation outlined in its new three-year plan

New York-listed (re)insurers Platinum, RLI and Travelers kicked off the Q1 reporting season in an upbeat fashion as benign cat losses and continued reserve releases helped to bolster their bottom lines.

The adoption of predictive analytics and new technology to re-engineer and modernise business practices could create a new breed of agile carriers, according to panellists at RMS' annual Exceedance conference.

RMS has reaffirmed its commitment to its own model development, despite the recent focus on its new RMS(one) platform, the firm said at its annual Exceedance conference last week.

Catastrophe risk management firm RMS has signed up five new model providers to its RMS(one) platform ahead of its official release, which is now slated for this autumn, the firm announced last week at its annual Exceedance conference.

The reinsurance industry is facing increased pressure as insurers consolidate and become more comfortable retaining their own risks, according to a new study from Cass Business School academics published by professional services firm EY.

London-listed Randall & Quilter (R&Q) today (22 April) confirmed a dip in its 2013 pre-tax profit, in part because of lower-than-expected premium revenues from its own Lloyd's Syndicate 1991.

Hyperion's director of transformation Simon Behagg has been hired as chief operating officer (COO) by Grahame "Chily" Chilton for his start-up broker Capsicum Re, sister title Inside FAC revealed last week Normal 0

Lloyd's motor insurer Equity Red Star today (22 April) renamed itself ERS as part of a rebranding exercise aimed at drawing a line under its troubled past.

London-headquartered managing general agent CFC Underwriting has launched a new cyber product aimed at large corporates.

Richard Brindle will have earned approximately $200mn from Lancashire Insurance, the company he formed in the aftermath of Hurricane Katrina in late 2005, as he prepares to step down from the London-listed insurer.

Incoming Lancashire Holdings CEO Alex Maloney has promised a continuation of the firm's distinctive fleet-footed management style following the surprise announcement of founding CEO Richard Brindle's impending departure.

Australian insurer QBE is selling the renewal rights for its global bloodstock book in yet another disposal following news of the potential sale of its Lloyd's aviation and US middle market businesses.

The 16 April South Korean ferry disaster, which has left 113 people dead and 190 unaccounted for, is expected to generate a total insured loss of just over $140mn, The Insurance Insider estimates.

Allied World is continuing to build its European platform with the launch of an onshore energy construction business headed by former AIG executive Alf Müller, The Insurance Insider revealed earlier today (22 April).

AmTrust Financial Services and National General have dropped plans to buy some of Tower Group's US-domiciled insurance companies as part of associated firm ACP Re's proposed takeover of the ailing carrier, AmTrust said last week.

Last year the US P&C industry made an underwriting profit for the first time since 2007, helped by rising premiums and lower claims, according to research from Verisk Analytics' ISO unit and the Property Casualty Insurance Association of America (PCI).

Travelers strength; Equity Red Star rename; P&C profit; Platinum profit; RLI beats; Lancashire dip; CNA appoint; Marsh on Tria; Housley confirmed; Quindell plummets; RSA departure; New HCC chair; Mexican quake; Markel expands; Catastrophes ease; Cyber warning; Motor rebound; Xchanging pays tribute; Allied World expands; RMS adds partners; Levy reduced; Liberty hires; Reinsurance boost; Crackdown welcome; Arista recruits; WR Berkley president

Martin Reith, the Lloyd's market veteran who founded Ascot Underwriting, is to join US wholesale broker AmWINS as an independent director.

Governments must introduce new measures to combat the growing risk of wildfire, which is increasing because of the effects of climate change, industry think tank the Geneva Association has said.

Florida Citizens Property Insurance is on course to issue the largest cat bond in the history of the market with its new Everglades Re transaction, demonstrating that investors' appetite for insurance-linked securities remains undiminished despite falling returns.

AM Best setback leads to rethink at ambitious start-up: Jewett leaves while Allied World has now been linked. For full article, click here...

At the core of contrarianism is the belief that if almost everybody holds the same opinion, the most profitable bet is always to wager the exact opposite of whatever the crowd is currently favouring.

The fierce defensive stance of Aspen's board could make it near-impossible for the Bermudian carrier to accept an offer from Endurance even if it is very financially attractive.