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July 2012/5

  • Major 2012 P&C mergers and acquisitions...
  • Valuations for (re)insurers in The Insurance Insider's P&C universe
  • Comprehensive analysis of the sector's share price performance, valuations and M&A data
  • UK insurance board members are not up to speed with preparations for Solvency II, according to a survey by big four accountancy firm KPMG.
  • Four years after its US government bailout, American International Group (AIG) still lacks complete and comprehensive regulation by financial authorities, a watchdog report has claimed.
  • A UK Court of Appeal decision on an asbestos-related legal dispute that spans the UK and US has highlighted the importance of insurers securing their first choice jurisdiction in disputes.
  • Sinochart, a Chinese ship charterer embroiled in a $178mn subrogation dispute with Norwegian marine insurer Gard, has won the right to bring the Japanese sub-charterer Daiichi Chuo Kisen and Chinese joint venture Ocean Line Holdings into the action.
  • Liz Frederick, the global head of insurance-linked securities (ILS) at Kane who was recently appointed managing director (MD) of Kane USA, has left the insurance manager.
  • The AlphaCat sidecars contributed $12.1mn to Validus' second quarter profits while the Bermudian reinsurer took a $5mn quarterly loss from the new PaCRe start-up, according to its strong Q2 results.
  • Lancashire wrote off $25mn in the second quarter for industry loss warranty (ILW) payouts related to the Costa Concordia disaster as ILW losses also hit its retro sidecar Accordion, the company's results showed.
  • Two diversifying cat bonds significantly increased during the marketing process, adding $575mn to the insurance-linked securities (ILS) issuance tally for 2012.
  • Amlin has reclaimed the highest premium to tangible book value in our P&C universe. The (re)insurer's crown slipped last year after the sector's heavy cat losses and the poor performance of its continental acquisition, ACI.