October 2015/4
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Share price data on The Insurance Insider's universe of P&C (re)insurers
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Allied World shares suffered last week as markets reacted to the carrier's mixed third quarter results.
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The UK House of Lords has considered the Enterprise Bill less than a week after members of the London market wrote to the economic secretary to the Treasury Harriet Baldwin to stress that one of the proposals was "fundamentally flawed".
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Travelers was forced to bolster its asbestos reserves by a further $224mn in the third quarter of 2015, as the shift towards strengthening reserves showed no sign of abating.
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Global capacity for power and utilities lines remains buoyant at $4bn, with falling rates, new entrants and low catastrophe losses contributing to the soft market conditions, according to Marsh.
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US cyber insurance business has seen double-digit rate increases at the latest renewal, as the market responds to recent large losses and a surge in demand for cover, according to new figures from Marsh.
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US primary casualty rates are falling for most buyers for the first time in the current soft market, according to broker Willis.
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Lower combined ratios, improving operating returns and falling catastrophe losses characterised Q3 earnings for the trio of major US insurers that reported last week.
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US commercial P&C bellwethers Travelers, Ace and Chubb all reported the impact of an increasingly competitive domestic landscape when they opened the third quarter results season last week.
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Developing a fully-fledged business integration plan and appointing an integration leader long before completion of an acquisition is absolutely key to successful M&A, senior London market executives agreed last week.
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Besso is set to sell its capital markets unit Optex Group to Guernsey-domiciled asset manager Providence Global, Optex CEO Andrew Martin told sister publication Trading Risk.
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New pastures for Donnell; Greenlight Re negative outlook; US wildfire losses; Investments hit Allied World; ANV signs partnership with PartnerRe; Price Forbes mines Lockton; Travelers shies away from M&A; Ferguson joins Price Forbes; Murphy exits IAG; Sciemus hires Welsh; Sciemus hires Welsh; Mosquera joins Arch Re; Mosquera joins Arch Re.
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The cat bond market could be set to make its biggest payout since 2011 as a result of Hurricane Patricia, which hit Mexico as a Category 5 hurricane last week.
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Loss estimates from the Tianjin explosions in August have continued to trickle in over the past week, with another two carriers making announcements.
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Insurance-linked securities (ILS) fund manager Credit Suisse Asset Management (CSAM) now has a second rated platform to draw on following the launch of Humboldt Re last week.
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Asia Capital Re (ACR) has received approval from the China Insurance Regulatory Commission (CIRC) to establish a representative office in Shanghai, The Insurance Insider can reveal.
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Patria Re's in-principle approval from Lloyd's to establish a special purpose syndicate (SPS) has again highlighted the shift in how the Corporation brings new entrants into the market.
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Despite warnings from Baden-Baden of mounting pricing pressure at 1 January, US reinsurers remain confident that the stabilisation that began to emerge at mid-year renewals will continue as negotiations gather pace at PCI this week.
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The message from Europe is clear: prepare for high single-digits price falls and less reinsurance to be bought on wider terms...
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There are signs of emerging demand for casualty reinsurance as insurers are drawn back to the market by attractive buying conditions at a time when pressure is growing on their underlying books of business.
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Lloyd's carrier Novae has sold its agricultural reinsurance team and the renewal rights to the £51mn ($78mn) portfolio to Ironshore, as it continues to reduce its exposure to reinsurance business.
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Specialty (re)insurer Fidelis announced a string of senior underwriting appointments today (26 October), including the hire of XL Catlin's Nick Burkinshaw as chairman of specialty.
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Lawyers have warned that a new film starring Will Smith is expected to boost public awareness of sports-induced head injuries, which could create a problem for run-off carriers.
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American International Group (AIG) has reorganised its commercial insurance business in a move that will also see a realignment of its specialty product lines, The Insurance Insider can reveal.