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.

Aviation insurers received no respite during the mid-year renewals as aviation rates saw double-digit declines at the sector's most significant renewal period of the year so far

Amlin's reinsurance division boosted its top line by 13 percent year-on-year during the first half, surpassing £1bn of gross written premium (GWP) as it wrote more business for Leadenhall Capital Partners.

IAG has drawn down A$70mn ($51mn) from its aggregate reinsurance cover, as its natural peril claims for the 2015 financial year surpassed A$1bn.

Crawford & Company's Jeffrey Bowman is to step down after nearly eight years as president and CEO of the company, it was announced today (24 August).

Berkshire Hathaway shares retain material upside, despite "short-term weakness" after disappointing second quarter earnings, according to Nomura analyst Cliff Gallant.

UK ratings affirmed; Gard adds CUOs; TMK expands; Helios forecasts improve; P&C shares fall; Trade credit demand surges; Chinese insurers under review; Danny weakens; Lloyd's drone warning; Willis Australia acquires CKA; Lockton's organic growth surges; Advent Insurance expands; Willis appoints construction head; AIG sells out of AerCap; Pacific Life Re gets go-ahead; Hallmark launches property unit; Everest adds casualty leaders; QBE's agg cover; Towergate boosts London market

Australian insurer IAG has exceeded its NZ$4bn ($2.7bn) reinsurance limit for the devastating earthquake that struck New Zealand in February 2011, and has warned that further deterioration could occur.

Cerberus Capital Management and MassMutual Capital Partners have appointed Sandler O'Neill as they again look to exit their stake in beleaguered life reinsurer Scottish Re, The Insurance Insider can reveal.

Reinsurers that have historically implemented more prudent reserving strategies will have a long-term competitive advantage over those that have been more aggressive in releasing reserves, Standard & Poor's (S&P) has warned.

Stock analysts have published a mixed bag of views on Amlin's interim results, despite the bottom-line figures arriving in line with expectations.

Amlin's renewed focus on "client intimacy" has removed any incentive to partner up with other (re)insurers, according to CEO Charles Philipps.

Big three broker Marsh looks set to finally fulfil its desire to move deeper into the UK retail insurance space after entering into talks with Jelf Group.