May 2016/3

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

With the first quarter results season starting to wrap up last week, companies in The Insider 30 experienced share price growth of 1.4 percent on average

Fronting carrier State National has acquired the first of two shell companies that it will use to write business for Bermudian fund manager Nephila Capital

Munich Re benefited from strong investor demand on the cat bond market as it was able to cut the premium on its latest deal by 12.5 percent during the marketing process, sister publication Trading Risk reported last week

Collateralised reinsurers and insurance-linked securities investors captured 12 percent more premium from the top 10 Florida carriers in 2015 than in 2014, according to data collected by sister publication Trading Risk

African commercial lines rates are struggling to improve as excess capacity and competition continues to impact profitability in the region

Most global reinsurers shrank their P&C reinsurance underwriting books as they battled tough market conditions in the first quarter of 2016

Global reinsurers reported a deteriorating underwriting performance in their P&C reinsurance arms during the first quarter compared to the prior-year period, as increased expenses, lower reserve releases and higher underlying loss ratios affected results.

Operating returns for The Insurance Insider's Bermuda composite declined considerably in the first quarter of 2016, as both underwriting and investment income failed to match last year's performance.

Qatar Insurance Company (QIC) subsidiary Antares has moved closer to launching on Lloyd's China platform, with plans now in place to begin underwriting on 1 January.

The contingency team at top-quartile Lloyd's managing agency Aegis has defected to London-headquartered managing general agent White Oak, The Insurance Insider understands.

Aetna exec takes CEO role at The Hanover; Compre restructures; Fidelis appoints CIO; S&P: reinsurers to pick up at least 50% of wildfire losses; RFIB launches Americas business; Fitch: Brexit scenario impact uncertain; XL Catlin hires Newick; RMS opens Florida office; PwC issues casualty reserves warning; RSA appoints underwriting director; AM Best affirms PartnerRe after review; XL Catlin announces $1bn share buyback; $460mn Chinese reinsurer in pipeline; Validus COO to lead US MGU; MPL profitabili

Clients dislike the recent trend of M&A activity that has reduced the number of carriers, according to Berkshire Hathaway Specialty Insurance executive vice president David Bresnahan.

A reinsurance pricing floor is "in sight" although the market is yet to hit rock bottom, according to JLT Re's CEO Ed Hochberg.

Insurers and reinsurers are making questionable decisions as they struggle to grow in a market that is swamped by around $100bn of excess capital, Arch Capital's chief financial officer has said.

AmWins CEO Steve DeCarlo has strongly defended wholesale brokers, arguing that they are an essential part of the insurance food chain and should not be disintermediated.

Total return reinsurers are here to stay as insurance companies start to take a more holistic approach to their investment strategy, according to Hamilton Group CEO Brian Duperreault.

Aspen Risk Management Limited has agreed to become the core underwriter backing Jason Anthony's fledgling managing general agency (MGA), The Insurance Insider can reveal

The London Market Group (LMG) is in the latter stages of a process to select a provider for a coverholder IT system that will form the centrepiece of its efforts to modernise binding authority processing, The Insurance Insider can reveal

Talbot is set to enter the cyber market following the hire of ANV class underwriter Phil Mayes, The Insurance Insider understands

Venezuelan state-owned oil company Petróleos de Venezuela SA (PDvsa) has continued its idiosyncratic approach to selecting its insurance brokers by retaining Chinese intermediary Jiang Tai Insurance Brokers, The Insurance Insider has learned

Listed Chinese construction firm Jiangsu Zhongnan Construction Group is set to launch a domestic reinsurer with a group of other partners, according to stock exchange filings.

People often do things in the heat of the moment that with the benefit of cool and sober reflection they wouldn't repeat. They lose their heads and do things that are clearly not in their long-term interests

American International Group (AIG) has entered talks with a number of legacy companies about the disposal of a $5bn back-year P&C book as signs grow of a turning tide on its divestiture strategy, The Insurance Insider can reveal