August 2016/4

Share price data on The Insurance Insider's universe of P&C (re)insurers

Shares in The Insurance Insider's Insider 30 group of market-leading (re)insurers experienced a price drop of 0.7 percent on average last week, as less than a third posted positive movements.

Global reinsurers' flagship P&C reinsurance arms reported a decrease in underwriting margins in the second quarter of 2016, led by elevated catastrophe losses and a rise in expenses.

The listed Lloyd's carriers reported double-digit returns for the first half of 2016, surpassing their 2015 performance as investment returns recovered.

Around 20 percent of the 1,900 executive roles at Zurich are facing the axe as part of CEO Mario Greco's wider cost-cutting plans, according to reports.

Geoff White, business group leader for cyber liability at Barbican, is to leave the company, The Insurance Insider understands

JLT makes entertainment hire; Everest syndicate hires Bailey for A&H; PartnerRe appoints Ogut and Srinivasan; Willis Re names McDowell as Bermuda head; Whittaker named EPUL MD; Former Willis director sentenced; Beazley doubles environmental risk capacity to $50mn

Average gross written premium (GWP) at reinsurers in The Insurance Insider's global composite shrank by 3.8 percent year-on-year in the second quarter.

Swiss Re, Everest Re and several insurance-linked securities (ILS) funds are among the major reinsurance providers for United Insurance Holdings carrier UPC Insurance and American Coastal Insurance (ACIC).

The recently announced tie-up between homeowners' carrier United Insurance Holdings and commercial specialist American Coastal will increase the listed Floridian's presence in the excess and surplus lines (E&S) space.

In divesting United Guaranty Corporation (UGC) AIG is executing its game plan but it is still far from achieving its end goal.

Arch's $3.4bn takeover of mortgage insurer United Guaranty Corporation (UGC) is a transformative deal that will create a Bermudian (re)insurer like no other.