November 2012/4

Weekly share price movements and key data on The Insurance Insider's universe of P&C (re)insurers and brokers

UK outsourcing giant Capita plc has been censured by UK regulator the Financial Services Authority (FSA) over the collapse of the Arch Cru funds.

London-listed run-off-to-live services company Randall & Quilter Investment Holdings (R&Q) has continued its piecemeal acquisition strategy with the purchase of the legacy Finnish reinsurer, Alma Insurance Company Ltd.

The delay in introducing the Solvency II regime has been unhelpful to managements trying to contain costs, according to Swiss Re CEO Michel Liès.

Lloyd's is seeking to adjust its aggressive timetable for pushing through Solvency II plans in recognition of the likely delay of the new regulatory regime until 2016.

The proposed piecemeal introduction of the delayed Solvency II regulatory regime continued to gather support this month, with the chairman of the body charged with overseeing its implementation acknowledging the idea in an important speech last week.

The Swiss Re Cat Bond Price Return Index slid 0.7 percent the week RMS released its $20bn-$25bn loss estimate for Hurricane Sandy, taking the total slump since 26 October to 3.2 percent.

Hong Kong-based advisory firm ILS Advisers hopes to raise $50mn-$100mn for a new insurance-linked securities (ILS) fund-of-funds in the first half of next year.

Lloyd's syndicates have predicted slightly improved results for the 2010 year of account, with the average 1.1 percent mid-point loss on capacity moving to a 0.2 percent gain.

The price of airline insurance is likely to hit its lowest point since 9/11 as the industry enters its two largest months for renewals, according to Jardine Lloyd Thompson Group (JLT).

Last week saw a new front open up on the Hurricane Sandy loss tally after a major boating organisation released a $650mn estimate for damage to pleasure craft due to the storm.

Swiss Re, the world's second largest reinsurer, has said it expects around $900mn of claims from Sandy, based on an industry loss estimate of $20bn to $25bn.