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June 2016/2

  • Share price data on The Insurance Insider's universe of P&C (re)insurers
  • While commercial lines insurers are attempting to take greater advantage of reinsurance arbitrage in the current buyers' market, they are not altering their underlying appetite for risk, according to Standard & Poor's (S&P)
  • Share prices of companies in The Insider 30 experienced a downturn in the second week of June, with the group declining by 1.24 percent on average.
  • A US court has consolidated a case in which the families of those killed in the Malaysia Airlines MH370 disaster are suing Allianz Global Corporate & Specialty (AGCS) and its global head of aviation Henning Haagen.
  • American International Group (AIG) has contributed to a $310mn settlement after it was accused of fraudulently misrepresenting the policy limits available in a decades-old class action suit.
  • The flow of prior-year reserve releases that has helped support US P&C underwriting results in recent years is not sustainable, according to Standard & Poor's (S&P).
  • The top executives of various (re)insurers have sold down or surrendered their holdings in their companies in recent months, as market volatility has piled pressure onto their stock prices
  • The MP for the cities of London and Westminster has warned that people in favour of leaving the EU are taking the UK down an irresponsible path.
  • SA Meacock & Co has announced that a fourth generation of the Meacock family will take an executive role at the Lloyd's managing agent.
  • China launches insurance exchange; Lord Leach dies; Montgomery joins Tysers as NED; Allianz blasts stress test; Reith rebrands Marketform as Neon; AM Best upgrades Africa Re; Allianz Re names Asia underwriting head; Rule takes new PRA role; JLT Re hires Nordic head; Kumamoto claims exceed $2.5bn; 2017 launch for Lloyd's India; Lloyd's appoints headhunter for chairman search; Twia lines up early cover for 2017; Barbican hires D&O manager; MMC board director steps down; Clarke to leave Miller; Doak ch
  • Nephila's fronting partner Allianz Risk Transfer (ART) raised the target for its Blue Halo Re cat bond to $185mn from $150mn as pricing on the high-risk transaction moved towards the upper end of forecasts, Trading Risk reported last week.
  • Leading Florida carrier Nephila Capital has withdrawn significant capacity in this year's June renewals, sister publication Trading Risk reported last week.