May 2017/5

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

The last full trading week of May brought gains for stocks in the P&C (re)insurance industry, with share price increases significantly outweighing reductions.

Cat bond issuances show no sign of slowing with $7.54bn of funds raised so far in 2017 - only $0.42bn less than the annual record of $7.96bn issuance in 2014.

First quarter annualised operating returns on equity (RoEs) fell year-on-year for companies in our coverage, as underwriting results were negatively impacted by Ogden charges, weaker underlying performances and higher catastrophe losses.

Catastrophe losses surpassed initial approximations in the first quarter, reaching record levels as the majority of claims hit in the last two weeks of the period.

Underwriting performances in the first quarter worsened year-on-year following underlying deteriorations, one-off Ogden impacts and higher cat losses.

P&C (re)insurance companies reported waning profitability in the first quarter of 2017, as returns were squeezed by a combination of one-off charges, underlying deteriorations and elevated cat losses.

Neil Hales, an accident and health (A&H) and property underwriter at Everest Re in London, has resigned from his position, The Insurance Insider understands.

A selection of the stories you missed from the last week: Amtrust fundraising; Towergate backer in debt raise; Pioneer; UPC; AGCS.

India is rapidly taking its place as one of the world's largest crop insurance markets.

A combination of desperately low rates, major losses and the struggles of its clientele have forced a number of Lloyd's carriers to draw back meaningfully from the cargo market.

Brazilian reinsurer IRB Brasil Resseguros has come a step closer to listing on the Sao Paolo Stock Exchange with an application to the Brazilian securities regulator.