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August 2016/3

  • Share price data on The Insurance Insider's universe of P&C (re)insurers
  • The global reinsurer composite recorded the largest weekly share price growth last week, increasing by 1.8 percent on average, while The Insider 30 traded flat.
  • Reported losses from the wildfires that tore through the Canadian province of Alberta in May have now reached $2bn, according to Q2 disclosures.
  • Underwriting margins for the listed Lloyd's carriers narrowed in the first half of 2016, as combined ratios were swollen by larger expense and loss ratios.
  • Gross written premium (GWP) growth at London-listed Lloyd's carriers rebounded in the second quarter of this year to 7.8 percent, after three of the group increased their reinsurance buying to expand their books
  • Operating returns for Bermudian carriers came under pressure in the second quarter of 2016 as a stream of cat losses narrowed underwriting profitability.
  • Most carriers are unlikely to contract out of parts or all of the Insurance Act that came into force in the UK on Friday (12 August), according to Richard Breavington, partner at law firm RPC.
  • International piracy activity has fallen to a 21-year low, as pirates increasingly seek ransoms from the kidnapping of crews instead of looting cargo, according to the International Maritime Bureau (IMB).
  • Floods hit Louisiana; Canterbury claims hit $13bn: ICNZ; Hyperion partners German broker; Liberty Mutual ups stake in Indian venture; PRA issues guidance on SII remuneration; Markel Catco returns up
  • Zurich's Q2 disclosures provided glimmers of a turnaround, but questions remain over the ability of the carrier to continue these improvements beyond 2016.
  • Contingency policies purchased by the organisers of the Olympic Games in Rio de Janeiro will not cover losses that are found to have been caused by internal errors.
  • The Italian insurance regulator IVASS has suspended China Taiping UK's agent in the country, Tempo Underwriting, from writing new business after a number of its policies were found to be "counterfeit".