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April 2016/3

  • Share price data on The Insurance Insider's universe of P&C (re)insurers
  • Last week proved to be a positive one, particularly for euro-denominated stocks, with some insurers recording share price rises of more than 10 percent.
  • The UK Court of Appeal has sent a landmark professional indemnity (PI) case involving American International Group (AIG) back to the Commercial Court for re-trial.
  • A UK High Court judge has thrown out an application made by AmTrust Europe for EUR32mn ($36mn) to be reinstated into a neutral trust fund, as the insurer battles its former Italian medical malpractice broker for ownership of the funds.
  • A Greek ship-owner accused by insurers of scuttling his own vessel in a $100mn case avoided travelling to London because of fears he would be arrested by police, his lawyer told a court on Friday (15 April).
  • New anti-inversion tax rules have removed the possibility for insurers to move offshore in M&A deals.
  • Xchanging said it hoped secondary "trades" of reinsurance contracts would become an integral facility of its X-gRm platform after reinsurance broker TigerRisk announced it had completed the first such transaction.
  • Barbican will continue to cede a 15.4 percent whole-account quota share to Credit Suisse Asset Management in 2016 through the fund manager's new Arcus Syndicate.
  • Hurricane forecasters are split on the outlook for the 2016 season amid uncertainty over a potential transition to a La Niña weather pattern.
  • Women have a seat on less than half of the executive boards for companies in the Lloyd's market, a new survey from the Corporation's diversity division has found.
  • A review of the US directors' and officers' (D&O) market by Fitch Ratings has predicted that rates will continue to decline in 2016, given the headwinds of plentiful capacity and stable loss levels.
  • Aviation underwriters experienced a relatively muted first quarter for claims in 2016, as loss activity fell substantially compared to the same period last year.