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August 2014/1

  • P&C (re)insurers aren't the only ones being stung by competitive pricing conditions as the listed brokers all experience top-line pressures
  • BMS Capital Advisory has received its broker-dealer license from US authorities and is now able to advise on cat bond issuances and M&A transactions
  • CCLA Investment Management, a specialist fund manager for UK charities, local authorities and the Church of England, has invested £20.58mn in the London-listed Catco Reinsurance Opportunities Fund
  • New investors injected capital into Mt Logan Re at 1 July, according to Everest Re's chief underwriting officer John Doucette
  • RenaissanceRe bought a new $180mn retro cover for its Florida book in the second quarter to protect against frequency and lower-level cat events within the state
  • Aspen is now trading at a mere $39.50 after rejecting John Charman's overtures. Both companies have to provide a compelling story for investors as independent businesses in a tough market
  • John Neal succeeded Frank O'Halloran two years ago, but another profits warning shows the scale of the challenge he inherited...
  • Weekly share price data on The Insurance Insider's universe of P&C (re)insurers
  • A benign first half for major catastrophes had led to high expectations from investors going into the Q2 earnings season, despite increasing awareness of the pressures facing the P&C sector
  • Downbeat second quarter results continued to dent investor sentiment in the P&C (re)insurance sector as The Insider 30 index fell a further 3.23 percent for the week ending 1 August, with Lloyd's carriers and short-tail specialists hit the hardest.
  • After nine years of legal wrangling, former American International Group (AIG) CEO Maurice "Hank" Greenberg will face a New York court in January 2015 over the infamous $500mn finite reinsurance transactions between the insurer and Berkshire Hathaway's General Re.
  • With the P&C reinsurance market challenged and cat pricing in free fall, Scor CEO Denis Kessler has argued that his company's business model leaves the reinsurer well placed to ride out the gathering storm
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