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December 2012/4

  • Weekly share price movements and key data on The Insurance Insider's universe of P&C (re)insurers and brokers
  • The European Insurance and Occupational Pensions Authority (Eiopa) has released its first legal opinion on "Solvency 1.5", which briefly outlines its proposal to get certain elements of Solvency II in place by 1 January 2014.
  • Carriers domiciled outside of the US could be eligible for reduced reinsurance collateral requirements provided the foreign jurisdiction meets a new set of standards proposed by the National Association of Insurance Commissioners (NAIC).
  • Alterra's sidecar New Point V has increased in size from $210mn to $247mn, the company said.
  • Allied World Assurance Company has bought a minority stake in Bermudian collateralised reinsurance writer Aeolus to expand its Allied World Financial Services platform.
  • Leading insurance-linked securities (ILS) fund manager Nephila is believed to have matched its $1bn+ first-half fundraising feat in the second half of the year as it heads toward the 2013 renewals.
  • The Solicitors Regulatory Authority (SRA) has taken another step to improve the quality of capacity in the UK solicitors' professional indemnity (PI) market, having provided greater clarity on the role of non-UK-based insurers.
  • Allstate and Axis Capital have reset for significant share buybacks in 2013 after shaking off Sandy losses, while Chubb is expected to direct proceeds from its Alterra stake after the Markel takeover to repurchase stock.
  • Analysts are looking forward to a resumption of share buybacks at American International Group (AIG) in 2013 after the US insurer cashed out 90 percent of its stake in aircraft leasing arm ILFC and its remaining interest in AIA Group.
  • Airline insurance rates are down 9-15 percent for 2012 as abundant capacity combines with another low loss year, according to reports by leading airline insurance brokers Aon and JLT.
  • Moody's became the latest ratings agency to express workers' comp concerns and warned of weak employment profitability, long-term structural changes in the US labour markets and persistently low interest rates.
  • Net ultimate asbestos losses have crept up by $10bn to $85bn for the US P&C industry, according to rating agency AM Best's latest figures.
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