April 2015/4

Share price data on The Insurance Insider's universe of P&C (re)insurers

Shares in our listed P&C universe - The Insider 30 - dipped by 1.03 percent last week, mirroring the performance of wider stock market benchmarks.

The International Underwriting Association (IUA) has criticised a Scottish government plan to recoup the cost of treating asbestos-related disease from insurers as "unequitable" and possibly illegal.

Regulatory developments at EU level have led to "a complex and confusing legislative architecture" of overlapping legislation, industry lobby group Insurance Europe has said.

Greater subjectivity brought in by the 2015 Insurance Act could force insurers to decide whether to pay a claim more quickly, according to loss adjuster Cunningham Lindsey.

A fraud trial against former American International Group (AIG) CEO Maurice "Hank" Greenberg looks set to go ahead after a judge threw out a final bid to have the case dropped.

Brown & Brown subsidiary Beecher Carlson has asked a US court to grant it ownership of a company that was set up by a number of former employees who allegedly stole information.

Aprilgrange, a subsidiary of US carrier Travelers, is being sued by a yacht owner for failing to pay out the full insured amount after the vessel was destroyed in a fire.

A $10mn dispute between Hyundai Fire & Marine and its London market broker became more heated last week after a row over "grossing up" commissions was once again aired in court.

Arthur J Gallagher subsidiary Heath Lambert is being sued by a Berkshire Hathaway-owned carrier over allegations that the broker failed to retain documents relating to a claim.

The Insider 30 index was up 6.25 percent in the first quarter of the year, marking a dramatic turnaround from the 3.09 percent fall in the same period of 2014...

Exor's unexpected $6.4bn all-cash move for Bermudian reinsurer PartnerRe has divided analysts on whether Axis will raise its current $5.5bn bid.

PartnerRe shareholders are likely to welcome Exor's unsolicited $6.4bn all-cash bid for the Bermudian reinsurer, following concerns that the all-share merger agreement with Axis undervalued the company.

The market is still waiting to see how Axis will respond to the gauntlet laid down by the Agnelli family last week when it submitted a $6.4bn all-cash counter bid for PartnerRe almost three months after the two Bermudians struck their deal.

Cat bond issuance in the first quarter of 2015 hit a record $1.86bn, rising 21 percent year-on-year to comfortably beat the $1.54bn placed in Q1 2014, according to data compiled by sister publication Trading Risk.

Florida Property Citizens Insurance is seeking $250mn of cover for its 2015 Everglades Re bond, sister publication Trading Risk reported last week.

American International Group (AIG) shares that have been trending solidly up since the start of February were given a ringing endorsement last week in a pair of bullish analyst notes with "buy" recommendations.

Canada's Public Sector Pension Investment Board (PSP) has completed its strategic investment in Amwins that values the US wholesale giant at $2.3bn - a move first revealed by The Insurance Insider last month.

TigerRisk's coup in luring Tony Ursano from Willis Capital Markets & Advisory (WCMA) is designed to present an integrated face to the market that reflects an agnostic approach to the sources of insurance and reinsurance capital.

East coast-focused US personal lines insurer Interboro Group has been placed up for sale as its backers look to exit their stakes, The Insurance Insider can reveal.

Cooper Gay Swett & Crawford's Ebitda surged in 2014 after a strong second half mitigated damage done in the first, but the company's valuation was still marked down sharply, according to documents obtained by The Insurance Insider.

US insurer American Financial Group (AFG) has announced the sale of its $1.2bn legacy book containing long-term care and life reserves to publicly traded holding company HC2.

Global broker Aon has rolled out a new directors' and officers' (D&O) facility for the Lloyd's market, according to sister title Inside FAC.

Dave Ingrey's proposed new $50mn US homeowners' property insurance start-up is aiming for a mid-year launch to target cat-exposed programme business written for its own book and as a fronting carrier.