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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.
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