March 2015/4

Share price data on The Insurance Insider's universe of P&C (re)insurers

Shares of the publicly listed carriers in our Insider 30 composite underperformed the FTSE100 last week, with their stocks rising just 1.44 percent on average.

The UK Prudential Regulation Authority (PRA) has explained that the chief actuary should form the "second line of defence" in its impending senior insurance managers regime.

The passage of the Indian insurance bill is set to significantly open up the country's insurance sector, as foreign reinsurers look to establish onshore branches.

UK-based (re)insurers are awaiting further clarification on the proposed diverted profits tax, after Chancellor of the Exchequer George Osborne confirmed the so-called "Google tax" would come into force from 1 April.

David Whiting, a former senior casualty underwriter for Torus, has been awarded just $1,909 of the almost half-a-million dollars he asked for in a constructive dismissal claim against his old firm.

A high court judge has criticised British Telecom (BT)'s insurers for trying to reduce claimant solicitors' fees in settlements of industrial deafness claims.

Ace has appealed against a ruling that made it liable to pay out under the pollution clause of a property policy, following a fire at a chemical plant in 2011.

Last week's proxy filing also gave some insight into how PartnerRe and Axis were valued during the due diligence process.

Global bankers Credit Suisse and Goldman Sachs are set to collect combined transaction fees of up to $49.5mn for financial advisory services if the proposed deal between PartnerRe and Axis successfully completes.

Axis-PartnerRe will achieve a double-digit return on equity (RoE) after two full years of operation, despite shrinking industry returns, according to Goldman Sachs' investment banking arm.

The year-end investment results of The Insurance Insider's composites clearly showed the challenging year the industry's CIOs faced in 2014.