November 2014/3

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

P&C (re)insurance stocks drifted back into negative territory last week, as our index of publicly listed carriers - The Insider 30 - dwindled by 0.45 percent, lagging behind the performance of the wider market.

Regulatory issues are obstructing London's ability to write business in emerging markets, the chief executive of the International Underwriting Association (IUA) Dave Matcham has said.

Five international reinsurance supervisory authorities have been recommended to receive qualified jurisdiction status within the US, the National Association of Insurance Commissioners (NAIC) said last week.

The Financial Stability Board (FSB) has pushed back the timing of its decision on whether any reinsurers should be deemed systemically important to 2016.

Credit Suisse Asset Management (CSAM) has closed its new run-off fund - the ILS Property & Casualty Fund - with $576mn of capital commitments, as of 30 September.

Randall & Quilter (R&Q) chairman and CEO Ken Randall has told The Insurance Insider that the legacy-to-live company's recent profit warning was "not a disaster", arguing that although it would have a material impact on profits the impact on reserves would be muted.

The US government is now unlikely to call former American International Group (AIG) boss Maurice "Hank" Greenberg to the stand in the lawsuit against it, after documents revealed he had been dropped from the list of planned witnesses.

(Re)insurers on both sides of the Atlantic are expected to step up their capital management efforts through increased dividend payouts in the coming quarters as the sector addresses swollen balance sheets and dwindling opportunities for profitable growth.

Having delivered double-digit returns in the third quarter of 2013, the operating return on equity (RoE) for our composite of six Bermudian carriers fell by 2.1 percentage points to 8.6 percent in Q3 2014.

Top-line growth accelerated for The Insurance Insider's composite of Bermudian carriers during the third quarter of 2014 despite the competitive marketplace.

Despite softening market conditions, The Insurance Insider's composite of short-tail carriers delivered top-line growth during the third quarter of 2014 as (re)insurers repositioned their books of business.

Absolute return bond funds are currently being marketed to the industry's chief investment officers. But what are they and how can P&C (re)insurers ensure they choose the correct ones? The Insurance Insider investigates...

Kelvin Re has become the latest start-up to join the roster of hedge fund reinsurers after securing an A- rating from AM Best last week, although it is taking a markedly different approach to its peers.

Arch Re CEO Marc Grandisson has questioned whether the reinsurance market will see a significant shift away from its current "buy and hold" model while also warning that acting more as a warehouse and distributor of risk could lead to "problems down the road".

Catlin COO Paul Jardine has said that the (re)insurance industry will need its current surplus capital when emerging economies such as China mature and require more catastrophe cover.

The California Earthquake Authority (CEA) is set to close its latest catastrophe bond at $400mn, $50mn above its initial target, sister publication Trading Risk reported last week. Normal 0

Lloyd's insurer Canopius continued its recent recruitment drive last week with the hire of Delta Lloyd's offshore wind insurance underwriting team, led by Maarten Mulder.

Asia Capital Re (ACR) has hired Brit hull underwriter Simon Stonehouse to head up its marine team, The Insurance Insider can reveal.

Three hires in Asia have demonstrated a trend of poacher turned gamekeeper, as carriers in the region turn to brokers.

Private equity firm Aquiline has acquired a majority stake in reinsurance intermediary Beach & Associates, in a move first revealed by The Insurance Insider back in August.

Lloyd's broker and coverholder EPG Insurance Services has launched a Lloyd's broking arm, Shepherd Compello.

Hyperion subsidiary Howden Broking Group revealed last week that it had acquired Harmonia Corretora de Seguros, a broker headquartered in São Paolo, from US intermediary Hub International.

Insurers are missing out on a potential growth opportunity by failing their small and medium-sized enterprise (SME) clients, according to a new report by Boston Consulting Group (BCG).

Cyber expertise is vital to prevent UK carriers from experiencing early losses and then withdrawing from the sector, according to Paul Bantick, UK technology, media and business services focus group leader at Beazley.

Conventional insurance policies are becoming more exposed to new risks like cyber, according to Markel International's head of emerging risks Scott Bailey.

The UK Treasury must be creative and flexible in helping the insurance industry attract smart capital to the London market, according to London Market Group (LMG) chairman Steve Hearn.

Aon found that the price of US directors' and officers' (D&O) cover renewed in the second quarter of the year fell by 5.4 percent on average.

Marketform plumps for Willis; Catalina completes; R&Q drops; Corver wins; AJ Gallagher buys; NAIC jurisdictions; RLI in special dividend; RenRe restructure; Shamieh joins AIG; Fishman reveals; Conning takeover; Argo Re hire; Satisfaction; Emerging products; Dual duo; RFIB appoints; Lockton's hires

Quindell's share price sustained another blow today (17 November) after Canaccord Genuity resigned as the company's joint broker and financial adviser with immediate effect.

Lloyd's blue-chip Beazley is working with top-10 global reinsurer Korean Re with a view to establishing a special purpose syndicate (SPS) for 2015 that would form the basis of a risk-swapping arrangement, The Insurance Insider can reveal.

It's uncanny how two events relating to the same subject can set the enquiring mind racing.

Catlin is restructuring its outwards casualty reinsurance to move to a single global excess-of-loss (XoL) cover at 1 January, The Insurance Insider can reveal.