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August 2015/2

  • Share price data on The Insurance Insider's universe of P&C (re)insurers
  • The Insider 30 moved up by 0.48 percent last week as the second quarter reporting season drew towards its close
  • Towers Watson investors have brought two class action lawsuits against the firm after it announced an $18bn merger with global broker Willis.
  • JLT is suing Howden after 17 of its employees defected to join the rival broker, including former managing director Goh Chye Huat.
  • Insurance companies must undertake dry-run exercises to meet the obligations of Pillar 3 under Solvency II, according to EY.
  • The Association of British Insurers (ABI) has secured a temporary relaxation for UK insurers in how they file their insurance premium tax (IPT) returns.
  • Governor of the Bank of England Mark Carney is expected to announce the UK Senior Insurance Managers Regime (SIMR) on Wednesday (12 August)
  • Heightened frequency and severity of US auto claims were the driving force behind deteriorating underwriting performance at two of the largest writers of the business last week, forcing remedial action on rates to catch up with loss trends.
  • Shares in Florida insurer Heritage traded down 19 percent at the end of last week as jittery investors reacted to a more cautious outlook on growth and the filing of a $400mn shelf registration.
  • Underwriting performance for the P&C reinsurance operations of global reinsurers generally improved during the second quarter as the group benefited from another period of benign natural catastrophe loss activity.
  • Bermudian (re)insurers experienced a volatile second quarter as a number of non-cat losses dented underwriting performance.
  • The Japanese big three posted a mixed second quarter performance as profits increased at Tokio Marine and MS&AD and narrowed at Sompo Japan Nipponkoa.