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June 2014/1

  • A look-up table for The Insurance Insider's universe of P&C (re)insurers
  • London-listed carrier Lancashire recovered by 6.21 percent last week, after its share price fell to a three-year low of 611p on 23 May Normal 0 false false
  • The cost of fraudulent insurance claims in the UK reached a record high of £1.3bn last year, up 18 percent from 2012, according to figures published last week (30 May) by the Association of British Insurers (ABI).
  • Legislative proposals aimed at accelerating the development of a private flood insurance market in the US have been welcomed by the Reinsurance Association of America (RAA).
  • The US Senate committee on banking, housing and urban affairs will meet for a crucial hearing on 3 June to discuss a bill that would reauthorise the Terrorism Risk Insurance Act (Tria).
  • A Supreme Court judge has ordered that a long-running fraud suit filed against former American International Group (AIG) CEO Maurice "Hank" Greenberg "must be tried" as he rejected Greenberg's attempt to dismiss the action.
  • A key hearing in a whistle-blower dispute between the former chief operating officer and general counsel for Maiden Holdings and the Bermudian reinsurer's management has been delayed, The Insurance Insider understands.
  • German insurance powerhouse Allianz is in the early stages of restructuring its global legacy assets to bring them under the control of its holding company in a 100 percent reinsurance arrangement, The Insurance Insider understands.
  • The profitability of the Lloyd's market looks to have fallen in the first quarter, based on a sample of four companies that report results for their syndicates.
  • With opportunities to deploy capital becoming constrained by current market conditions, (re)insurers turned to capital repatriation in Q1 2014 in an effort to maintain shareholder value and reduce excess capital positions.
  • Despite another benign period for catastrophe losses, underwriting performance actually deteriorated across our universe of listed P&C (re)insurers during the first quarter of 2014 as other headwinds grew stronger.
  • With the Q1 2014 results season complete, The Insurance Insider's Data Room highlights the key takeaways from the reporting period
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