January 2015/4

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

Global P&C (re)insurance stocks rose again last week, with The Insider 30 reporting a 1.3 percent increase over the past seven days.

Insurers currently structured as segregated portfolio companies (SPCs) in the Cayman Islands have been granted the legal right to transact business between separate portfolios.

The Prudential Regulation Authority (PRA) is backing the creation of a global insurance capital standard despite misgivings from US trade bodies, according to the PRA's executive director of insurance Paul Fisher.

Regulation ushered in after the financial crisis should be reassessed to ensure that wholesale and retail markets are treated differently, according to the UK's Crown Representative for Insurance Michael Wade.

A landmark case has seen ratings agency Standard & Poor's (S&P) agree to pay the US Securities and Exchange Commission (SEC) more than $77mn to settle three cases based on fraudulent misconduct in its rating of certain commercial mortgage-backed securities (CMBS).

Tom Bolt has reiterated Lloyd's guidance for managing agents on distribution costs and broker remuneration in a bid to ensure they remain compliant with the 2010 Bribery Act.

Private equity-backed claimant law firm Roberts Jackson has threatened UK employers' liability insurers with a wave of litigation involving industrial deafness claims.

Gard has lost a $138mn legal battle after the Court of Appeal quashed an earlier judgment that the ship's charterer had breached the terms of its insurance policy.

Following a quarter relatively free of major catastrophe losses, US-listed P&C (re)insurers look to have ended 2014 on a high after analysts predicted widespread earnings outperformance and continued book value growth in the upcoming Q4 reporting season.

Investment analysts have said that the agreement for Willis to take an 85 percent interest in independent London market broker Miller Insurance Services will be largely accretive to the big three broker's earnings.

PartnerRe chief executive Costas Miranthis is in line to receive a golden parachute worth in excess of $17mn after leaving the global reinsurer.