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January 2015/3

  • Share price data on The Insurance Insider's universe of P&C (re)insurers
  • Insurance industry representatives have met with Her Majesty's Revenues and Customs (HMRC) to discuss the potential implications of the new diverted profits tax, which is due to come into force on 1 April 2015.
  • The delegated acts for the European Union (EU)'s capital regime Solvency II officially entered into force on 18 January, following publication in the official journal of the EU the day before.
  • The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have launched a consultation into a reduced management levy limit for the Financial Services Compensation Scheme (FSCS).
  • Global P&C (re)insurance stocks outperformed the S&P 500 last week despite The Insider 30 falling by 0.24 percent
  • A number of Lloyd's insurers have lost a $64.4mn UK Commercial Court battle over a shipping loss that has been linked to the murder of a British loss adjuster.
  • AmTrust has launched a strongly worded response to a class action suit brought by a number of shareholders after its stock plummeted in response to a critical note from a short seller.
  • Business interruption (BI) has been named as the top peril facing businesses for the third year in a row, according to research from Allianz Global Corporate & Specialty (AGCS).
  • Faced with a gloomy outlook for the P&C commercial and personal lines (re)insurance sector, equity analysts are beginning to reassess their stock selection theses as they seek to identify companies that can outperform for investors.
  • US commercial P&C insurance rates are finally set to soften in 2015 following years of slowing price gains, according to the latest Barclays commercial P&C insurance buyers' survey.
  • Insurers in the $1bn+ Superstorm Sandy suit brought by Amtrak have filed motions opposing the US railroad operator's request for summary judgment on the definition of "flood" and Sandy's status as a single loss occurrence.
  • A $175mn settlement plan to compensate victims of the catastrophic Lac-Mégantic oil train derailment and fire in 2013 has been filed in a Quebec court.