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November 2015/4

  • Share price data on The Insurance Insider's universe of P&C (re)insurers
  • In a week when The Insider 30 companies traded broadly in line with leading stock indices, Florida homeowners’ insurer Universal was a dramatic outlier as its shares slumped after it was identified as an attractive short opportunity.
  • New York University (NYU) is suing FM Global after it did not cover a $1.47bn loss when a number of buildings were rendered unusable by Superstorm Sandy.
  • American International Group (AIG) may be forced to defend actor and comedian Bill Cosby in a string of suits that have followed allegations of rape dating back 40 years.
  • Further details on the work being done to bring insurance-linked securities (ILS) business to the UK are expected to be unveiled in this week’s Autumn Statement, according to PwC.
  • Standard & Poor’s (S&P) has said Generali’s disposal of its life reinsurance operations in the US could explain why it is no longer being considered a global systemically important insurer (G-SII).
  • Profit forecasts for Names-backed Lloyd’s syndicates improved in the third quarter for both the 2013 and 2014 years of account (YoA).
  • The cat bond market will look to build on one of its pillars of competitiveness - multi-year reinsurance solutions - by offering increasingly long-dated risk, according to Aon Securities CEO Paul Schultz.
  • Insurance-linked securities (ILS) fund manager Credit Suisse will launch one of the largest Lloyd's start-ups in January with the £90mn Arcus Syndicate 1856, after receiving final approval from the Lloyd's Franchise Board.
  • The Lloyd's-dominated group of London market carriers wrote slightly less business in the third quarter than in the corresponding period last year, analysis from The Insurance Insider shows.
  • The uptake of environmental impairment liability insurance across the European Union rose by 13.6 percent per annum between 2006 and 2014, according to Marsh.
  • Universal Insurance Holdings has fought back strongly against claims made in a short seller presentation that caused its share price to plummet last week.
  • Barry Jones, chief claims advocate for Marsh, has left to set up his own consultancy, The Insurance Insider understands.
  • Around 240 guests from the (re)insurance industry are expected to gather at Sandown Racecourse on 4 December in an effort to raise thousands of pounds for charity.
  • Talanx receives internal model approval; AGCS hires aviation expert; Arcus gets green light; Towergate makes £18.7mn loss; Ace details leadership teams; Pool Re retention increased; Willis-Towers Watson vote delayed to December; Steadfast adds Insight; CNA names Robusto as incoming CEO; SCR audit update; Marine division launch; R&Q acquires FNF Title; RenRe syndicate shake-up; Markel Co-CEOs unveiled; Hanway succeeds Lang at MMC; Vibe hires trio; Atkin becomes Talbot chairman; RiiG hires C
  • American International Group (AIG) CEO Peter Hancock struck a conciliatory tone as he met with a group of major investors for informal talks last week.
  • Activist investor Carl Icahn has upped the stakes in his fight with American International Group (AIG) after announcing that he will take his proposal to break up the company directly to its investor base.
  • Novae will look to write close to $100mn of excess and surplus lines (E&S) property business in the US in 2016 as it draws on capital backing from top-10 alternative fund manager Securis, the listed Lloyd's business told The Insurance Insider.
  • Flood Re has chosen to place around two-thirds of its catastrophe reinsurance programme with just six carriers.
  • Towers Watson shareholders might yet block the proposed merger with Willis despite the terms of the deal being revised, according to JP Morgan analyst Sarah DeWitt.
  • Big-three broker Willis won a string of aviation accounts during the October and November renewals, The Insurance Insider has learned.
  • It was incredibly cold here in London over the weekend. A sharp and shocking northerly wind speckled the rain with the season's first sleet, blasting horizontally into the faces of those that had to brave the elements.
  • American International Group (AIG) has continued the reorganisation of its commercial insurance unit, with the firm cutting several divisional leadership roles across its property, casualty and financial lines businesses, The Insurance Insider can reveal.