August 2012/4

Major 2012 P&C mergers and acquisitions...

Valuations for (re)insurers in The Insurance Insider's P&C universe

Weekly share price movements and key data on The Insurance Insider's universe of P&C (re)insurers and brokers

Mitsui Sumitomo Insurance expects last year's floods in Thailand to result in gross claims of around 470bn yen ($6.0bn), according to an interview given to a Thai newspaper.

The Tennessee Valley Authority (TVA) has been found liable for damages caused by one of the largest environmental disasters to hit the mainland US in recent years.

Bermudian run-off acquirer Enstar has continued its flurry of summer acquisitions with a deal to acquire US insurance group SeaBright Insurance Holdings in a transaction valued at $252mn.

The Missouri Department of Insurance has issued stronger reinsurance requirements for the state's mutual insurers after last year's Joplin tornado forced some into financial distress.

Federal support for the terrorism insurance market via backstop reinsurance must be maintained because the private sector cannot provide a competitive market, the Risk and Insurance Management Society (Rims) has warned.

The Federal Reserve Bank of New York has sold the remaining securities in the Maiden Lane III portfolio to book a total net profit of $17.7bn for taxpayers from its support for AIG and related facilities in its 2008 rescue.

BNP Paribas and Credit Agricole are conducting internal probes into dollar payments that could breach US sanctions, after Standard Chartered Bank received heavy fines from US regulators.

European reinsurers and London market firms have made steady gains on the stock markets this year but there is still potential for further gains, Barclays analysts Olivia Brindle and Andy Broadfield said in a recent note

The two Bermudian reinsurers that have posted the highest expense ratios this year also have the lowest price-to-book trading valuations, analysis by The Insurance Insider shows