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March 2017/1

  • The World Bank's Pandemic Emergency Financing Facility (PEF) is on track to be completed this year, according to Michael Bennett, head of derivatives and structured finance at the organisation
  • Florida Citizens Property Insurance is expecting an increase in business as a result of Demotech's warning that local insurers with less than $25mn surplus may be downgraded, according to its chief financial officer Jennifer Montero
  • The Bermuda composite's operating return on equity (RoE) declined by a third to 5.8 percent in the final quarter of 2016.
  • Liberty Mutual's new sidecar may lead the way for further (re)insurance disintermediation, although many primary insurers may not be able to follow, said a Standard & Poor's (S&P) insurance analyst at the Sifma IRLS conference in Miami
  • Share price data on The Insurance Insider's universe of P&C (re)insurers
  • The Insurance Insider's composite of (re)insurance stocks rose 2 percent last week, but underperformed the FTSE 100, Stoxx Euro 600 and S&P 500
  • Bermudian carriers recorded heavy cat losses in the fourth quarter of 2016 to take the group's combined ratio 6.1 percentage points higher year-on-year to 93.9 percent.
  • Auto insurers have been looking to advances in technology such as rear-view cameras and collision-avoidance systems to lower the cost and frequency of claims, but some have suggested that the new developments are among the factors helping to drive up losses
  • Gross written premium (GWP) expansion at Bermudian (re)insurers slowed in Q4 2016, following a lumpy, M&A-driven prior-year quarter and a slowdown in insurance underwriting.
  • Novae has had a difficult run, with the Ogden rate change capping a period that has seen the departure of its respected CFO and a profits warning that telegraphed a significant book value drop.
  • London market carrier Novae's delayed results, which are scheduled for publication this week, are likely to come under intense scrutiny as investors look for signs of a resurgence following a tumultuous end to 2016.
  • A Hong Kong government advisory group has claimed the region is "facing a serious challenge" as a (re)insurance hub and recommended a series of regulatory and legislative changes to make it more attractive.
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