August 2017/1
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Third party capital bolstered growth for both Validus asset manager AlphaCat and Bermudian carrier RenaissanceRe in the second quarter.
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Willis Towers Watson Securities has said the record $6.3bn of non-life cat bond issuance in the second quarter may spell the beginning of the end for traditional property cat reinsurance.
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Bermuda-based carriers generated high single-digit operating returns on equity (RoE) in the second quarter of the year as a benign level of cat losses allowed underwriting margins to widen.
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The absence of major catastrophes allowed second quarter underwriting margins to improve in Bermuda from the previous year, when heavy cat losses severely dented results.
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Top line growth slowed at Bermuda-based (re)insurers in the second quarter, with carriers proceeding cautiously in a bleak pricing environment.
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Insurance executives gave further indications that rates in the US commercial P&C market are flattening last month, though they refrained from claiming that the market has found a bottom.
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The regulatory requirements surrounding Part VII portfolio transfers look set to increase under proposals from the Financial Conduct Authority (FCA).
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Insurers and intermediaries face upheaval as the UK's financial regulators prepare to roll out conduct and accountability rules originally devised for bankers in the aftermath of the financial crisis.
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Hiscox CEO Bronek Masojada confirmed that his company intends to use Lloyd's Brussels for its European big-ticket business, while utilising its Luxembourg hub for its growing retail offering on the continent.
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US healthcare diagnostic firm LabCorp has initiated legal action against AIG Specialty and Liberty Mutual after the insurers refused to pay out on a $10mn policy over the company's loss of a class action suit.
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A cohort of hull underwriters led by Aspen have lost their appeal to sue the banker of Turkey-based Kairos Shipping in an English court to recoup a $22mn payment for a ship that was later judged to have been scuttled.
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The news that Dale Underwriting Partners is sponsoring a special purpose arrangement (SPA) syndicate for a group of contingency and property underwriters led by Tom Phillipson offers fresh evidence that Lloyd's is using the vehicles to foster entrepreneurial talent.
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Zurich has reached the second stage in the disposal of its EUR400mn ($470mn) German legacy medical malpractice book, having selected three run-off carriers to participate in the next round of bids, The Insurance Insider understands.
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Markel views its proposed acquisition State National as a strong growth engine, with the fronting specialist well-positioned to take advantage of secular trends in the P&C sector driven by alternative capital and InsurTech.
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Oak Hill's acquisition of Carlyle Group's majority stake in Epic Insurance Brokers is the latest deal in what seems to be a near-constant churn of ownership among private equity-backed intermediaries.
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Epic Insurance Brokers president Pete Garvey is looking for acquisitions that would represent a strategic fit for the fast-growing business after principal financial backer Carlyle Group agreed to sell its majority stake to Oak Hill late last month in a deal valuing the firm at nearly $1bn.
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The greatest paradox of today is that some of our best marketers are actually the worst communicators.
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Low levels of catastrophe losses flattered second quarter results at risk carriers, as market conditions continued to apply upward pressure to core loss ratios amid softening reserve releases.
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Lloyd's deputy chairman; PRA raises facilities concerns; Kilpatrick joins Fidelis; MS Amlin in Brussels; Hailstorm Paul losses...
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