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June 2016/3

  • Share price data on The Insurance Insider's universe of P&C (re)insurers
  • The Insider 30 experienced a decrease in stock prices for a third consecutive week, with the composite falling by 2.7 percent on average and some carriers suffering near double-digit drops.
  • Aon has reported itself to the Romania's Anti-Corruption Department after contracting the son of a former presidential candidate to lobby on its behalf, UK court documents have alleged.
  • Guy Carpenter has been brought into Willis Re's increasingly embittered legal fight against its former chairman Peter Hearn, who defected to join the rival reinsurance broker last year.
  • XL Catlin increased its reserve cushion following the Catlin acquisition, as Morgan Stanley estimated that the company's pro forma excess reserves grew to $1.5bn in 2015 from $1bn the year before.
  • While M&A activity has lulled in 2016, conditions remain ripe for further consolidation among P&C insurers, according to credit data analysts CreditSights.
  • Tokio Millennium Re (TMR) posted improved underwriting results for full-year 2015, as its combined ratio narrowed by 2.6 percentage points to 94.1 percent.
  • Collateralised reinsurance is likely to be the main driver of insurance-linked securities (ILS) growth as Solvency II pushes insurers to seek out "cash in a box" risk transfer solutions for peak cat risk, according to Michael Stahel, partner and portfolio manager at LGT ILS Partners.
  • The insurance-linked securities (ILS) industry needs to become more transparent, said Eveline Takken-Somers, investment director at PGGM.
  • The "unshackling" of the traditional reinsurance value chain from the past creates opportunities for risk carriers, Everest Re chief underwriting officer John Doucette said at the Trading Risk Convergence London conference on 16 June.
  • London market electronic trading system Placing Platform Limited (PPL) has chosen directors' and officers', errors and omissions and financial institutions business as the next classes in which to roll out its technology, The Insurance Insider can reveal.
  • Lancashire's chairman of energy Len Messenger has died after a nine-month battle with cancer.