January 2017/3

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

The first half of January proved to be challenging for listed P&C companies, as the Insider 50 ended another week in the red.

P&C (re)insurers are expected to deliver fourth quarter earnings in line with analyst expectations after catastrophe losses remained moderate during the period.

Reinsurers' struggle for better prices continued through the 1 January 2017 renewals, as P&C analysts expected rates to improve year-on-year but still remain in negative territory.

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The recent $187mn Resilience Re club cat bond deal was made on behalf of QBE, sister publication Trading Risk revealed.

The significant number of maturing bonds and ongoing favourable environment for sponsors could push cat bond issuance for 2017 to $8bn, insurance-linked securities (ILS) brokers said.

Marsh's middle market agency business could have paid around $325mn for J Smith Lanier & Co, according to Keefe Bruyette & Woods analyst Quentin McMillan.

Underwriters and their representatives have warned that brokers are routinely watering down the UK Insurance Act to relieve clients from some of the new law's more onerous requirements.

The US Government Accounting Office (GAO) has provided lawmakers with a detailed examination of two ways in which insurers might be required or at least encouraged to finance the federal Terrorism Risk Insurance Act (Tria).

Rates in the marine reinsurance market continued to retreat at 1 January despite a significant increase in loss activity in 2016.

The 1 January reinsurance renewals saw Asian cedants place more business with regional reinsurers as their Western counterparts took a more disciplined approach.