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January 2017/5

  • Share price data on The Insurance Insider's universe of P&C (re)insurers
  • The Insurance Insider's index of 50 companies in the P&C (re)insurance industry went up by 1.4 percent last week to 1,040.3.
  • Rising frequency and severity in auto claims prompted US giant Travelers to raise rates and more increases are in the pipeline, in a trend evident across car insurance in the P&C industry.
  • After sustained rate decreases last year, Wells Fargo has predicted that 2017 will again be a buyers' market in the US.
  • Pemex and its insurers have settled a claim relating to an April 2015 platform fire for $650mn, bringing the loss in just below the reserve currently held by the market, The Insurance Insider can reveal.
  • Insurance buyers should look to multi-year property cat deals to take advantage of the ongoing soft market, according to broker Marsh.
  • Auto liability continues to be the most challenging risk to place in the US primary and excess casualty markets, according to broker Marsh.
  • Validus' acquisition of Crop Risk Services (CRS) from Archer Daniels Midland for $127.5mn has garnered broadly positive reactions from equity analysts.
  • MS Amlin is the lead insurer on the primary layer for a $400mn marine cargo claim by Canadian commodity hedge fund Vermillion stemming from a lost oil shipment, The Insurance Insider understands.
  • QBE dismisses takeover rumours; McKee named Cathedral CEO; Beazley ups US property capabilities; Towergate gets £40mn injection; Omers commits $1bn to Allied World; Aon's McGill to receive $22.5mn; Generali replaces CFO; Perils raises Italian quakes loss; Axis London cyber hires; China Taiping profit warning; Aegis London marine MGA deal; JLT US construction stake; Beale details Brexit plans; Endurance-Sompo deal approved; Axis hires Hussey; Ergo Singapore outlook negative; Ryan Specialty buys tra
  • The cost to US employers of serious but non-fatal workplace injuries fell by 3.2 percent year-on-year to $59.87bn in 2014, Liberty Mutual reported in its 2017 Workplace Safety Index.
  • Forest fires in Chile have destroyed 1,000 buildings in the town of Santa Olga, one of several communities reduced to ashes as wildfires spread across the country.