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May 2016/4

  • Share price data on The Insurance Insider's universe of P&C (re)insurers
  • Most of the companies in our universe experienced positive reactions from investors last week, with The Insider 30 finishing the week 0.5 percent higher.
  • A vote for the UK to leave the European Union (EU) could trigger a wave of M&A as insurers look to acquire or divest EU business units, according to a report commissioned by law firm Kennedys.
  • The UK government has announced plans for a new bill that will ensure appropriate insurance is available for driverless cars.
  • Trade body Insurance Europe has responded to a consultation being carried out by the European Insurance and Occupational Pensions Authority (Eiopa) on the way infrastructure corporates are identified under Solvency II.
  • An insurance exchange is on track to launch in Shanghai after 91 companies agreed to contribute $343mn of capital required to establish the venture.
  • Minister for the Cabinet Office and Paymaster General Matt Hancock MP has warned that the UK risks losing the opportunity to secure a stronger regulatory outcome in the insurance industry should it vote to leave the European Union (EU).
  • The Insurance Insider's listed Lloyd's composite posted an increase in gross written premiums (GWP) in the first quarter of the year, battling the headwinds posed by softening rates.
  • Capital management returned to the fore in the first quarter of 2016, as carriers returned more capital to shareholders than a year ago through increased share repurchases and dividends.
  • Monetising American International Group (AIG)'s legacy portfolio has the potential to free up significantly more capital than the $9bn targeted as part of the insurer's $25bn two-year capital management plan, according to analysts at Credit Suisse.
  • Investment bank Credit Suisse has scaled back the size of its innovative Operational Re bond, which is set to close at CHF200mn, sister publication Trading Risk reported last week.
  • Florida insurers Security First and United P&C both launched first-time cat bond issuances last week, sister publication Trading Risk reported.