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Leading Florida carrier Nephila Capital has withdrawn significant capacity in this year's June renewals, sister publication Trading Risk reported last week.

Risk managers and insurance industry professionals congregated in the UK spa town of Harrogate last week to attend Airmic's 2016 conference, which centred on the theme of "new frontiers in risk".

Florida insurer Universal opted to purchase more all-state cat cover and placed a greater proportion of its programme on a multi-year basis.

United Insurance Holdings has bought an additional $100mn of limit to take its cascading cat cover to $685mn ahead of the 2016 hurricane season.

Three months after taking the top job at Zurich, and Mario Greco has already put his stamp on the global carrier.

The Placing Platform Limited (PPL) initiative is scheduled to go live in July, The Insurance Insider can reveal.

Lancashire's Lloyd's arm Cathedral has brought in Jon Barnes as its new head of property treaty, The Insurance Insider can reveal

US insurer Nationwide returned to the market at the end of May after completing its property catastrophe reinsurance placement to buy an extra $1bn of vertical limit, The Insurance Insider has learned.

How much value is there in an insurance brand?

A bidding process for Lloyd's (re)insurer Ariel has finally launched months after an investment bank was retained to advise the company on its strategic options, The Insurance Insider can reveal.