April 2014/4

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

Hiscox has increased its capacity for US domiciled terrorism risk to $200mn as it responds to increased demand for the product with the upcoming expiration of the government backstop under TRIPRA.

Strong bottom line growth helped push Allied World's share price up 4.17 percent last week, following reports of a 54 percent lift in Q1 operating profits to $129.9mn, or $3.84 a share, smashing the Wall Street consensus of $2.17 a share.

AstraZeneca will not challenge a court ruling that allowed insurers Ace and XL to avoid a $200mn claim related to personal injury lawsuits filed by users of the pharmaceutical giant's Seroquel anti-psychosis drug.

UK regulatory body the Prudential Regulation Authority (PRA), which last year issued two consultation papers on the use of capital extraction mechanisms and schemes of arrangement for solvent, run-off firms, has "softened" its advice in the final guidelines released late last week.

Fairfax subsidiary TIG Insurance Company has asked a New York court to rule that it is not liable to cover two class action suits alleging that the National Hockey League (NHL) failed to protect players against head trauma.

Despite $1mn policy limit, California court award forces WRB into a large settlement...

From 1 May, US households covered by the National Flood Insurance Program (NFIP) will benefit from a drop in their flood premiums after lawmakers suspended legislation that pushed prices sharply higher.

Part of the massive bailout of American International Group (AIG) under the Troubled Asset Relief Program (Tarp) is estimated to have cost the US taxpayer a total of $15bn, according to a Congressional Budget Office (CBO) report published last week.

The UK's Prudential Regulation Authority (PRA) has unveiled strict criteria governing the way that general insurers will be required to calculate their technical provisions and internal models under the incoming Solvency II capital regime.

A strongly worded defence of London-listed insurance technology firm Quindell, issued by the company on Friday (25 April), has failed to halt a precipitous drop in its shares triggered last week by a research note from US investor Gotham City Research that questioned its profitability.

Acquisitive US brokers AJ Gallagher (AJG) and Brown & Brown have reported contrasting fortunes so far in 2014, despite rising expenses and lower organic growth during the first quarter.

The pace of US commercial P&C rate increases continued to slide during the first quarter, but some of the sector's leading pricing bellwethers have adopted a defensive and upbeat stance, downplaying the influence of increased competition in the market.

Meagre top line expansion and low investment returns are expected to emerge as dominant themes in the upcoming Q1 interim management statement reporting season for Lloyd's carriers

London's independent wholesale brokers have reacted with predictable anger to proposals, unveiled in the latest Lloyd's strategic plan, to expand the Corporation's geographical footprint in growth markets.

The insurance-linked securities (ILS) market shrank temporarily during the first quarter of 2014 despite a record volume of new issuance for the start of the year, Munich Re Capital Markets said in its Q1 review of the sector.

A Texas Windstorm Insurance Association (TWIA) committee recommended during a 21 April meeting that the state insurer of last resort should focus on sourcing aggregate reinsurance protection for its 2014 programme, including a cat bond.

Floridian insurer American Coastal Insurance Company has returned to the insurance-linked securities (ILS) market with a renewal of its Armor Re cat bond shortly after pricing settled on two other Florida-focused bonds.

Bank of America Merrill Lynch has won the mandate to sell QBE's US mid-market business, The Insurance Insider can reveal.

Endurance's most obvious next steps in its hostile bid for Aspen are the commencement of an exchange offer in tandem with a scheme of arrangement, market sources have predicted.

The Atrium war aviation and non-war aviation underwriting teams that resigned at the beginning of the month are heading to Lancashire-owned rival Lloyd's carrier Cathedral, The Insurance Insider revealed earlier today (28 April).

AM Best's initial decision to withhold an A- rating from Pine River's proposed "greenfield" reinsurance start-up has tilted the balance of probability towards partnerships between hedge funds looking to enter the space and traditional reinsurers

The average cost for one year's comprehensive motor cover in the UK fell to £531 ($887) in the first three months of 2014, a decrease of 16.6 percent compared with the same period last year, according to the latest quarterly survey from motor insurer and roadside recovery group AA.

Broking heavyweight Aon saw its share price close up 3.4 percent on Friday (25 April) after it posted first quarter earnings per share of $1.28, comfortably ahead of the analyst consensus of $1.18.

Martin is new Willis Ltd CEO; Canadian Gomes; Tornadoes strike; Claims goes live; Fairfax acquires; Saga IPO; Heritage IPO; Aspen woos investors; Allied World profits; Everest Re beats; WR Berkley bullish; Platinum buyback; S&P downgrade; Cyber injury; TMEI recruits; Latin expansion; New CEO; Turkish growth

Florida Citizens Property Insurance kept its risk transfer budget for 2014 stable at $300mn but managed to buy 70 percent more reinsurance limit than last year, highlighting the swingeing rate reductions that have occurred in the Sunshine State over the past two years.

As the great and the good of the US P&C industry prepare to converge on Denver for the Rims annual gathering, now is probably a good time to look at pricing trends in the world's biggest insurance market.

Hamilton Insurance Group CEO Brian Duperreault has made an approach for private equity-owned Lloyd's carrier Barbican, The Insurance Insider has learned.