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June 2014/3

  • A look-up table for The Insurance Insider's universe of P&C (re)insurers
  • The Insider 30 composite was broadly stable last week, dropping just 0.53 percent and narrowly outperforming broader equity markets, which were lower amid renewed conflict in Iraq.
  • A group of MPs and Lords from all three major UK political parties are calling for an inquiry into the dangers of concussion in UK sport in response to an eye-watering proposed settlement relating to similar issues in American football.
  • The House Financial Services Committee has unveiled a moderated version of its draft bill to renew the Terrorism Risk Insurance Act (Tria).
  • Price-to-book (P/B) valuations for P&C (re)insurers are typically better now than they were a year ago, despite the recent drift in (re)insurers' share prices and negative investor sentiment regarding future earnings prospects.
  • The Insurance Insider reviews the performance of stocks in the first quarter after the stellar gains of 2013
  • London-based insurance-linked securities (ILS) fund manager Securis Investment Partners has hired Martin Reith to take on the newly created role of advisory director.
  • Pricing guidance has tightened on the Texas Windstorm Insurance Association (Twia)'s Alamo Re cat bond, the first post-June transaction on the insurance-linked securities market, sister publication Trading Risk reported last week.
  • The appointment of Peter Hancock as new group CEO of American International Group (AIG) last week surprised some industry commentators for its timing, but was broadly welcomed as a sign that the insurance giant's turnaround remains well on course.
  • Violent wind and hailstorms affected large parts of western and central Europe between 7 and 9 June, causing damage to homes and infrastructure in Germany and France, which is likely to result in insurance losses.
  • Lloyd's is expected to issue a consultation this week on new guidelines detailing minimum conduct standards for managing agents.
  • Venezuelan state-owned energy company PDVSA has appointed Alesco and Cooper Gay as its brokers, and informed the market that it will cancel its in-force policy ahead of a 1 July rewrite, The Insurance Insider has learned.