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.

Flood Re names interim CEO; Lloyd's China premium doubles; Biba calls for single market access; Berkshire Hathaway launches P&C fac unit; Scor regional appointments…

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.

The $4bn price tag Onex has pinned on its up-for-sale US insurance broker USI represents a near 12x multiple of the intermediary's Ebitda.

Argo and Swiss Re have replaced Aspen as underwriters of Brownstone programme business in New York and Massachusetts

Argenta looks set to confound expectations of narrowing sale multiples for Lloyd's businesses if it can get a deal with one of its final-round bidders over the line

The search for the next Lloyd's chairman, which was due to conclude in mid-December, has been delayed further and it could be March before a decision is made on John Nelson's successor, The Insurance Insider has learned

Generali's push to remove EUR300-EUR400mn ($318mn-$424mn) of old US casualty liabilities from its balance sheet is indicative of a wider trend of carriers examining their back books in order to achieve higher operational efficiency

The news that a thinly reserved construction claim from 2009 - Noreco - could now cost energy insurers hundreds of millions of dollars will push the upstream market just that little closer to breaking point

The popular block-balancing game Jenga is a great way of instilling an understanding of risk management in young and old alike

The upstream energy market has appealed to overturn a judgment that would force it to pay a claim worth $470mn that sources indicated was reserved until the fourth quarter in the low tens of millions