All material subject to strictly enforced copyright laws. © 2021 Insurance Insider is part of Euromoney Institutional Investor PLC.
Accessibility | Terms & Conditions | Privacy Policy | Modern Slavery Act | Cookies | Subscription Terms & Conditions

February 2013/2

  • Weekly share price movements and key data on The Insurance Insider's universe of P&C (re)insurers and brokers
  • Swiss Re may recover a chunk of the $12mn prize money that SCA Promotions paid out to Lance Armstrong after the Texan firm filed a lawsuit against the shamed cyclist.
  • The New York Court of Appeal has sent a complex asbestos case back to trial to determine whether a Travelers unit improperly structured a $1bn settlement in order to inflate reinsurance cover.
  • A detailed European Commission report undertaken by Ernst & Young has praised the subscription market model and found no evidence that improper alignment of premiums is occurring in London, the industry's largest subscription market.
  • The (re)insurance industry needs to cooperate to face up to regulators and avoid being "overwhelmed" by regulation, Axis founder John Charman said at the InsiderScope 2013 event hosted in London last week by The Insurance Insider.
  • Renaissance Re CEO Neill Currie threw cold water on the idea that growth in the convergence market represented a "watershed" point during the company's earnings call.
  • RenaissanceRe's rated sidecar DaVinci Re returned profits to investors as it bought back shares worth a net $150mn, while fellow operators Validus and Alterra also began reporting fee income from their post-Tohoku sidecars.
  • The respite for investors at the start of 2013 after the US avoided falling off the "fiscal cliff" is likely to be short-lived amid global macroeconomic challenges and a low-yield environment that is largely unchanged from last year.
  • Reinsurers provided divergent commentary on the 1 January US cat renewals, with the most bullish putting rate movements at +5 percent while others suggested that rates were down.
  • Novae Group surprised the market last week with an unscheduled announcement that its pre-tax profits would be 40 percent higher than the average analyst forecast.
  • UK-listed firms received a mixed reaction from investors after Beazley kicked off the Lloyd's reporting season with forecast-beating 2012 results, while Catlin saw its share price fall modestly despite its still-solid performance.
  • After last week's flurry of Q4 results releases from our universe of Bermudian (re)insurers, the clear theme to emerge was of outperformance, with all but one company beating analysts' consensus forecasts.
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree