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November 2014/4

  • Weekly share price data on The Insurance Insider's universe of P&C (re)insurers
  • Most listed (re)insurance carriers in The Insurance Insider universe traded up last week as our Insider 30 index climbed by 0.82 percent.
  • Applying global capital requirements to large US insurers would be "unnecessary" and lead to higher rates for buyers across the industry, according to Namic and the Property Casualty Insurers Association of America
  • Chief executive of the Financial Conduct Authority (FCA) Martin Wheatley has described the mishandled announcement of a probe into closed life funds as his biggest regret in recent months
  • The use of "shadow" or "quasi" section 166 investigations by UK regulators is on the rise, industry sources have told The Insurance Insider
  • Costa Rican insurer Instituto Nacional de Seguros (INS) has dropped its motion to appeal in a long-running legal battle with UK broker Howden and Miami-based broker HRG
  • Ten Lloyd's insurers are in the UK Commercial Court resisting a $77mn hijacking claim that has been linked to the murder of a British loss adjuster.
  • A historically strong capital base has positioned the P&C insurance industry to take on additional investment risk to counter the headwinds of low interest rates and a deteriorating underwriting outlook, according to Conning.
  • Global reinsurers can breathe a sigh of relief at the end of this week as yet another benign North Atlantic hurricane season comes to a close, with the absence of major cat losses lifting underwriting performance in the third quarter.
  • (Re)insurers operating on the Lloyd's platform operated with lower overheads than their rivals in 2013, according to EY's latest cost and operational benchmarking survey.
  • AIG has brought its third Tradewynd Re cat bond to market and is seeking to raise $300mn of indemnity cover for multiple perils across the US, Canada, Mexico and parts of the Caribbean.
  • Start-up fund Third Point Investment Management is considering whether to keep its $110mn cat fund running in its current form in 2015.
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