June 2015/3
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Share price data on The Insurance Insider's universe of P&C (re)insurers
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P&C (re)insurance stocks outperformed the wider stock market last week, as our Insider 30 index traded up by 0.88 percent.
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The Bank of England (BoE)'s Prudential Policy Directorate has set out penalties for firms that fail to meet the Solvency II capital standards.
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US body the Financial Stability Oversight Council (FSOC) last week released further guidance on the designation of systemically important financial institutions (Sifis).
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Broking giant Aon is suing the former CEO and chairman of its Bolivian operation for $20mn after he allegedly "destroyed" its retail business in the country by stealing funds and misstating accounts.
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Former AJ Gallagher (AJG) international CEO David Ross, who recently defected to rival broker Towergate, put his own staff under surveillance when he was at the firm, court documents revealed.
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Tokio Marine's $7.5bn all-cash deal to acquire US specialty carrier HCC will further diversify the Japanese insurance giant's revenue and profit stream, easing the pressure on domestic business.
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Unipol expanded the size of its debut cat bond, Azzurro Re, by EUR50mn to reach EUR200mn, sister publication Trading Risk reported last week.
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American International Group (AIG) opted for parametric instead of indemnity cover in its latest $300mn Compass Re II cat bond transaction because it believes these triggers will broaden the insurance-linked securities (ILS) market's appeal, the company's head of capital markets Samir Shah told sister publication Trading Risk.
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The California Earthquake Authority (CEA) placed 50 percent more reinsurance limit at the January renewals, according to documents presented at a board meeting in late May.
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The UK government's Crowded Places programme, which offers companies the chance to apply for a loss mitigation credit (LMC) on their Pool Re rates, begins from today (15 June).
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The development of more effective models will lead to an increase in the amount of reinsurance capacity in the cyber market, according to Kevin Kalinich, global practice leader for cyber and network risk at Aon Risk Services.
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