November 2015/3

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

AmTrust saw its share price fall by more than 13 percent last week after announcing plans to raise $383mn through the placement of 5 million common shares.

The plane crash in Egypt’s Sinai Peninsula on 31 October could be a game changer in terms of the types of terrorism risks the insurance industry is up against, Pool Re CEO Julian Enoizi said last week (10 November).

The New York Department of Financial Services (NYDFS) is considering potential new regulations to improve cyber security within the financial sector.

There is room for insurance-linked securities (ILS) capacity to grow even without expanding the size of the catastrophe reinsurance market, Aon Securities CEO Paul Schultz said at the ILS Bermuda Convergence 2015 conference last week (11 November).

Nephila Capital has added two years to the term of its exclusive tie-up with fronting provider State National, extending the arrangement until 2019.

Everest Re is set to close its largest cat bond issuance to date through the $625mn Kilimanjaro Re 2015 transaction, sister publication Trading Risk reported last week.

The global reinsurers reported weaker underwriting results in the third quarter as Tianjin losses and higher expenses more than cancelled out an uptick in reserve releases.

Despite emerging pressures in the Florida homeowners’ market, its quintet of publicly traded carriers continued to demonstrate strong top-line growth in third quarter earnings releases, in part driven by expansion beyond state borders.

The weakening of the euro has allowed global reinsurers to post their biggest increase in Q3 top line since 2012, analysis from The Insurance Insider shows.

Trade body Insurance Europe has called for the European Commission to reconsider how it implements its simple, transparent and standardised (STS) framework for securitisations.

AM Best has affirmed its A- rating on Kelvin Re as it confirmed the Credit Suisse-managed carrier had written more than $120mn of gross premium during the first nine months of 2015.