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.

Financial and strategic buyers have a rare opportunity to pick up meaningful exposure to the heavyweight end of the run-off market after Goldman Sachs' private equity arm signalled that it wanted to sell its stake in Enstar.

Jay Fishman, the chairman and former CEO of Travelers, lost his battle with amyotrophic lateral sclerosis, the progressive neurological disease known as ALS, on Friday (19 August). He was 63.

The Prudential Regulation Authority (PRA)'s proposals to monitor "model drift" question the raison d'être of internal models, according to the Association of British Insurers (ABI).

The $3.4bn acquisition of AIG's mortgage insurance arm United Guaranty Corporation (UGC) does not represent a fundamental change in Arch Capital, CEO Dinos Iordanou told The Insurance Insider in an exclusive interview.

Austria-based carrier Uniqa has begun the process of auctioning off its Italian business, The Insurance Insider understands.

Insurance is a simple business. You take in premiums and invest them. Out of this you pay wages, office costs, brokerage and losses. The money you get from the former needs to comfortably exceed the latter - that being the case you get to pay the taxman and then your shareholders.

Athito CEO Stef Raftopoulos and Ark executive chairman David Foreman have decided not to pursue a dual managing agency-syndicate start-up, focusing instead on the launch of the syndicate, The Insurance Insider can reveal.