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April 2016/4

  • Share price data on The Insurance Insider's universe of P&C (re)insurers
  • Returns in the reinsurance market fell in 2015 as rate softening eroded core underwriting margins, according to Willis Re
  • The first quarter results season inflicted its first hit last week, as Travelers saw its share price decrease by 4.6 percent to $110.84 after reporting earnings that fell short of market expectations.
  • Insurers may potentially be able to collect damages from their reinsurers for late payment of claims under the incoming UK Enterprise Bill, according to law firm Berwin Leighton Paisner (BLP).
  • ProSight is suing Rod Fox-backed V3 Insurance Partners after the US managing general agent (MGA) allegedly bound "substandard risks" on the insurer's behalf and "negligently" ignored underwriting guidelines.
  • Former Willis Re chairman Peter Hearn has denied claims that he owes the reinsurance broker $2.8mn after resigning unexpectedly last year.
  • Two more candidates have been added to the list of those applying to replace the outgoing Florida insurance commissioner Kevin McCarty.
  • Global (re)insurer and broker accounting and settlement group Ruschlikon has formally started work on the London Market Group (LMG)'s Target Operating Model (Tom) programme, it announced on 20 April.
  • A bill to establish a programme that will provide reinsurance for state natural catastrophe insurance programmes has been introduced in the US House of Representatives.
  • The global insurance industry is cautiously optimistic about investment opportunities in 2016, according to a survey from Goldman Sachs Asset Management (GSAM).
  • The introduction of large and complex floating liquid natural gas (FLNG) vessels into the energy industry will create new high-exposure risks for insurers.
  • Travelers was impacted by the return to a relatively normal level of catastrophe events in the first quarter, leading the US carrier to report a deterioration in its overall underwriting results.