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July 2016/4

  • Share price data on The Insurance Insider's universe of P&C (re)insurers
  • Shares in Allied World increased by almost 17 percent over the week after the Bermudian carrier surprised analysts and investors alike with a sterling set of second quarter results
  • Florida mutual Sawgrass has accused its part-owner Endurance of trying to destroy its business after the John Charman-led firm threatened to sell the renewal rights of 40,000 homeowner policies to a competitor.
  • Insurers are lagging behind other institutional investors in protecting their portfolios against climate risk, according to climate change investment transparency body the Asset Owners Disclosure Project (AODP).
  • Analysts have advised investors to look beyond consensus estimates to underlying results as the sector heads for a second quarter earnings season hit by cat losses above what was modelled.
  • Allied World shares surged last week amid a flurry of favourable analyst notes after the company smashed second quarter earnings forecasts.
  • Reported nat cat losses for the second quarter have exceeded $2.33bn, with the bulk of carriers yet to reveal their potential exposure.
  • There appears to be no end in sight to rate softening in the US property cat insurance market, according to the early reporting brokers and carriers on second quarter earnings calls last week.
  • The two most highly valued Lloyd's insurers, Beazley and Hiscox, opened the results season with better-than-expected earnings for the first half of 2016.
  • Tightening spreads on the cat bond market should lead to a pick-up in activity later in the year after a subdued second quarter, Aon Securities CEO Paul Schultz said in the company's latest insurance-linked securities (ILS) review.
  • Markel Catco said Canadian wildfire claims will lower the net asset value (NAV) of its Catco Reinsurance Opportunities Fund by 1 percent or about $3.5mn.
  • Nephila Capital's fronting partner Allianz Risk Transfer more than doubled its target size for its second cat bond of the year, sister publication Trading Risk reported last week.