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February 2016/4

  • Share price data on The Insurance Insider's universe of P&C (re)insurers
  • The Insider 30 showed stock price improvements, expanding by 2.3 percent week-on-week, as the negative impact from the fourth quarter results diminished.
  • In his letter to colleagues, Aon Broking CEO Warren Mula talked of a "larger, deeper relationship" with RT Specialty after appointing the firm as its "preferred" wholesaler.
  • Markel Catco has appointed Mark Way as chief operating officer with immediate effect, the company announced last week.
  • Lancashire's Kinesis third-party vehicle shrank slightly for 2016, the company's head of investor relations Jonny Creagh-Coen told sister publication Trading Risk last week.
  • Global broker Marsh has highlighted increased competition between local and international insurers in the Pacific region as one of the key trends in the market.
  • The UK and the Middle East have seen widespread softening of up to 10 percent across virtually all major lines of business, according to global broker Marsh.
  • Strong competition and high levels of capacity for US casualty risk again put pressure on prices in 2015, leading to rate reductions of up to 10 percent, according to a study by Marsh.
  • Rate decreases in the US commercial property market show no signs of stopping, according to a new report from Marsh.
  • The big three international (re)insurance brokers reported soaring organic growth figures as well as increased operating margins in the final quarter of 2015.
  • The Bermuda composite's combined ratio climbed to 87.8 percent in the fourth quarter of last year, deteriorating from 83.1 percent in Q4 2014.
  • Outgoing Cathedral Capital CEO Peter Scales will not be replaced following his departure at the end of March, The Insurance Insider can confirm.
  • The Indian government is considering increasing the level of automatically permitted foreign direct investment (FDI) for insurers to 49 percent, according to The Indian Times.
  • Allied World casualty hire; Downey joins Everest; Winston lashes Fiji; New non-exec at RenRe; Allianz books EUR163mn storm loss; Lancashire Q4 profits down a third; IAG buys ADC; IAG buys ADC; Brit profit slump; Allied World execs buy stock after Q4 rout; Duperreault takes Hamilton chair; Eiopa 2016 priorities; Pool Re hires; Schreiber and Maag depart; RLI cyber launch; Phoenix back to ashes; Brit ups Ambridge line; ArgoGlobal appointment; Markel Catco COO.
  • ProSight at Lloyd's has continued to reshape its management team as it attempts to move on following the ouster of managing director Bernard Mageean last September.
  • The London Market Group (LMG) has formally launched the search for a successor to interim CEO Ben Reid, The Insurance Insider understands.
  • Chubb has parted company with its head of aviation Malcolm Brett, The Insurance Insider can reveal.
  • Marsh is being sued by Filipino insurer PGA for an alleged breach of confidentiality after the carrier lost an aviation account it had held for 19 years.
  • Enstar has agreed to write a 50 percent reinsurance of a $2.2bn book of US legacy business belonging to Allianz
  • Aspen UK operations director Kevin Miller is to take up the new position of chief operating officer at top-quartile Lloyd's syndicate Aegis London.
  • Group natural catastrophe losses that almost doubled to EUR738mn ($814mn) and Fireman's Fund costs helped drag Allianz Global Corporate & Specialty (AGCS) to a full-year underwriting loss.
  • Global insurer Generali is moving closer to a mid-year launch at Lloyd's after passing one of the key staging posts in the start-up process last week, The Insurance Insider understands.
  • Aon's decision to cut its "preferred" wholesale panel from two to one has led to a wave of speculation about the broking giant's motivations and what its actions might mean for a sector that has seen soaring valuations and widespread consolidation in recent years.
  • Aon has reshuffled some of its most senior broking executives, with Tom Fitzgerald promoted to CEO of Aon Broking, The Insurance Insider can reveal.