May 2015/2

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

P&C (re)insurance stocks traded up last week as the Insider 30 index made a 1.18 percent gain, outperforming the FTSE 100 and S&P 500 but lagging behind the Euro Stoxx 600.

The Federal Emergency Management Agency (Fema) is to offer homeowners affected by Superstorm Sandy the option of reviewing their flood insurance claims, amid allegations that some were handled fraudulently.

Private equity funds are exploring a number of "direct and indirect" avenues to begin writing legacy risks, the annual Insurance and Reinsurance Legacy Association (Irla) Congress heard last week.

Canadian conglomerate Fairfax has announced a pair of legacy transactions worth more than $126mn.

Willis has been granted an extension of an injunction blocking rival broker JLT from poaching any more of its specie team, moving the deadline up to April 2016.

The first quarter of 2015 saw a 9 percent year-on-year decline in overall new securities and business litigation filings and enforcement actions, according to research conducted by Advisen.

Global reinsurers' aggregate shareholders' equity increased by 5 percent to $344bn last year, according to Willis Re's reinsurance index.

Global reinsurers' flagship P&C reinsurance arms reported a general deterioration in underwriting performance during the first quarter, as increased expenses, higher-than-expected man-made losses and widening core loss ratios dented results.

In a quarter spared the impact of cat losses it was perhaps surprising to see a significant deterioration in the underwriting performance of the quartet of short-tail carriers tracked by The Insurance Insider.

Underwriting performance for Bermudian carriers worsened slightly during the first three months of 2015, as underlying core loss experience and expense ratios increased amid another light catastrophe quarter.

Demand for facultative reinsurance in many areas is now significantly on the rise, according to the exclusive findings from sister publication Inside FAC's 2015 Market Survey.