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July 2016/1

  • PartnerRe has made a number of appointments after restructuring its business units, the reinsurer announced today (6 July)
  • Share price data on The Insurance Insider's universe of P&C (re)insurers
  • Shares in the Insider 30 expanded by 3.4 percent on average in the last week of June, as investors' initial Brexit shock moderated
  • As investors continue to struggle to find attractive yields in traditional fixed income assets, many are considering the potential benefits of investing in real assets
  • Rates in the beleaguered downstream energy market continued to slide during the second quarter of the year, with most reductions in the 10-20 percent range, according to analysis by JLT Specialty
  • Market volatility triggered by the UK's Brexit vote could drive increased investor interest in the insurance-linked securities (ILS) sector, although the impact is not expected to be meaningful, according to a variety of market participants.
  • Continental reinsurers and European insurers woke up to a new reality late last month after the UK voted to leave the European Union (EU), a decision which is expected to negatively impact their operations
  • After sterling fell to 30-year lows against the US dollar a unique buying opportunity has presented itself to those looking to buy a piece of the London market.
  • The five major listed brokers with exposure to the UK took differing impacts from the Brexit crisis, with some even seeking to present the high levels of uncertainty as a fresh commercial opportunity
  • The UK's vote to leave the European Union should not impact the rapid growth of the country's cyber sector, market participants have told The Insurance Insider.
  • Gibraltar "cannot and will not" fall into a regulatory vacuum where the jurisdiction suffers "death by a thousand cuts" following the UK's vote to leave the EU, a regulatory expert on the Rock has said.
  • Lloyd's and the London market are faced with two incompatible options from the fallout of last month's Brexit vote, prompting discussions about the best way forward.
  • The UK's vote to leave the EU has prompted insurance CEOs to voice concerns over passporting business and attracting top talent
  • TMK hires Amphlett; ArgoGlobal appoints cargo underwriter; Gable suspends shares; MSI's ILS hopes; Nexus moves into marine; XL Catlin hires Asia marine hull leader; Probitas expands casualty team; BP Marsh exits Hyperion stake
  • AM Best's 1 July decision to assign Sirius's new Bermuda-based company a negative outlook on its A financial strength rating has highlighted anxiety over the impact of Chinese acquisitions on carriers' credit profiles.
  • The volume of legacy noise-induced hearing loss (NIHL) claims is expected to continue to decline as an anticipated glut of 20,000-25,000 cases looks less likely to materialise, according to law firm Weightmans.
  • Brian Bissett has resigned as chief data officer of XL Catlin to join Zurich, The Insurance Insider can reveal.
  • US mutual fund manager and major sidecar investor Stone Ridge Asset Management posted a 7 percent expansion to the net asset base of its three reinsurance funds in the first part of 2016 to reach $4.76bn.
  • Marsh Finpro has received widespread support from London management liability writers for its latest facility in a clear demonstration of the continuing dominance of broker-led offerings, sister title Inside FAC revealed earlier this month.
  • Underwriters have warned the rise in blockchain-based companies poses significant coverage challenges, as shown by the heist of $53mn of "ether" cryptocurrency from an investment fund in June.
  • The introduction of a series of premium taxes levied on the marine industry could hit fixed-premium underwriters and mutuals as shipowners battle against the charges.
  • The International Underwriting Association (IUA) has elected six London market executives to its board, the organisation announced on 5 July.
  • Colorado State University (CSU) updated its 2016 hurricane season forecast on 1 July to include one extra named storm, bringing the total number predicted to 15, as it said the transition away from an El Niño weather pattern continued.
  • Lloyd's managing agent Apollo has hired well-regarded marine underwriter Iain Henstridge as it looks to build out a hull book, The Insurance Insider understands.