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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.