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August 2015/4

  • Share price data on The Insurance Insider's universe of P&C (re)insurers
  • P&C (re)insurance stock performance weakened last week as The Insider 30 fell by 3.39 percent, mirroring the movement of wider stock market indices.
  • The number of UK industrial deafness claims hit an all-time high in the first half of 2015, topping the previous peak of 50,000 claims back in H1 2013, according to the Institute and Faculty of Actuaries.
  • Eight international (re)insurers have asked New York's Supreme Court to rule that they are not liable for a $143mn repair bill for the world's largest tunnelling machine.
  • The Texas office of global broker Willis is facing a multi-million-dollar negligence suit after an insurer refused to pay out following a botched demolition in California.
  • American International Group (AIG) has confirmed that it plans to appeal a ruling against the group in a landmark professional indemnity (PI) case.
  • A former Arthur J Gallagher (AJG) senior vice president is suing the broker and an alleged member of the Gallagher family for at least $12.5mn, claiming she was sidelined for reporting a number of sexual harassments.
  • Insurers are extremely concerned with last minute requirements being made of them ahead of Solvency II implementation on 1 January, according to a survey from industry trade body Insurance Europe.
  • IAG has entered the debate about whether the Australian government should establish a reinsurance pool as a way of reducing household insurance costs for cyclone-prone regions in Northern Australia.
  • Almost three quarters of insurance market participants believe they are underprepared in key areas relating to the UK's Flood Re initiative, according to a survey conducted by EY.
  • European insurers' investment portfolios will become more diversified in the coming months, as low returns and non-investment profits come under pressure, according to AM Best.
  • Capital management remained firmly on the agenda for Bermudian and short-tail carriers during the second quarter as market headwinds continued to erode profitable growth opportunities.