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.