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June 2017/1

  • Capital repatriation slowed down in Q1 compared to the same period of last year for most P&C (re)insurers in our coverage universe, with share repurchases proving unattractive as operating earnings subsided
  • The PRA is investigating broker facilities in one of two interconnected reviews launched amid pleas for help from carriers in tackling mounting acquisition costs, The Insurance Insider has learned
  • The Benelux region has pulled further ahead of rival jurisdictions among UK carriers seeking locations for post-Brexit subsidiaries, with Luxembourg extending its overall lead
  • Yesterday my usual route to work took me past a squadron of white TV satellite uplink vans lining the neighbouring river crossing to London Bridge, pressing as close to the police cordon as they dared
  • Lloyd’s plans to form an insurance-linked securities (ILS) trading platform could be realised once Brexit matters have been dealt with, according to its outgoing chairman John Nelson
  • In contrast with their Bermudian counterparts, the vast majority of US specialty (re)insurers opted out of repatriating capital to shareholders through buybacks
  • Tokio Millennium Re is seeking $250mn of reinsurance cover from its Spectrum Re 2017-1 cat bond, according to sister publication Trading Risk
  • Allstate allowed a $175mn gap fill layer to lapse when it renewed its $4.42bn nationwide excess catastrophe reinsurance programme ahead of the start of the 2017 hurricane season
  • Florida reinsurance rates are now hovering just 10 percent above the previous cyclical lows noted in 1999-2000, after falling by 5.1 percent at this year's June renewal, according to JLT Re
  • The pace of global insurance rate decreases has slowed for the fifth quarter in a row, according to a study by Marsh
  • For years, the broker drive to facilitise the market and intermediaries' efforts to push acquisition costs higher has been a subject of intense interest and mounting concern for carrier executives
  • A number of the bigger residual insurers were among cedants that prospered as competition for US property catastrophe reinsurance business intensified in the mid-year renewals