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August 2015/3

  • Share price data on The Insurance Insider's universe of P&C (re)insurers
  • P&C (re)insurance stocks traded up last week as The Insider 30 climbed by 0.64 percent, outperforming the FTSE100 and Euro Stoxx 600 but on par with the performance of the S&P 500.
  • American International Group (AIG) has lost a bid to minimise its exposure to a potential £11mn professional indemnity claim, in what has been dubbed a landmark ruling in the UK's Commercial Court.
  • Flood Re is one step closer to implementation after the UK state-backed entity started the on-boarding process that ensures industry participants have the information and access required to test the programme.
  • UK watchdog the Prudential Regulation Authority (PRA) has published its final version of the Senior Insurance Managers Regime (SIMR), which will introduce what experts have described as a far more complex set of rules for insurers.
  • Global reinsurers shrugged off cyclical market pressures during the second quarter, as a number of carriers bolstered their top lines despite ongoing softening of pricing and terms.
  • Operating returns for Bermudian (re)insurers flattened during the second quarter, as a number of non-cat and smaller cat losses hit the bottom line.
  • Bermudian carriers booked varied top-line movements during the second quarter, although it was clear that (re)insurance market pressures were felt across the board.
  • Short-tail carriers reported contrasting top line movements in Q2 as Validus and RenaissanceRe benefited from recent diversifying acquisitions while Lancashire booked significantly lower gross written premium (GWP), in part because several multi-year contracts were not up for renewal.
  • Returns for the short-tail (re)insurers slid well below their five-year average in the second quarter as a sharp drop in underwriting profits was only partially offset by an improvement in investment results.
  • Underwriting results sharply deteriorated in the second quarter for The Insurance Insider's shrinking composite of short-tail specialists as compounding rate reductions combined with an above-average period for losses.
  • Mike Millette's new investment vehicle, Hudson Structured Capital, is expected to target a range of reinsurance sectors as well as transport structured finance, sister publication Trading Risk reported last week.