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November 2016/1

  • Swiss Re is the sole reinsurer involved in a new catastrophe insurance scheme in the industrial Chinese province of Guangdong, the carrier announced.
  • Nephila portfolio manager David Long is standing down from the Bermudian firm at the end of the year, Trading Risk revealed last month.
  • Axis reported $8.1mn of fee income from "strategic capital providers" in the third quarter, up fourfold from $2.1mn a year earlier, after it established casualty underwriting vehicle Harrington Re with Blackstone.
  • Share price data on The Insurance Insider's universe of P&C (re)insurers
  • Starting with Hurricane Matthew and closing while third quarter results disclosures were in full swing, October brought significant stock price movements for P&C carriers.
  • Even as carriers faced a continued soft US insurance market overall, Willis Towers Watson has forecast pricing gains in several casualty markets next year, particularly those covering large retailers' cyber risks and some parts of the environmental liability market.
  • There was a modest easing of rating pressure in the US commercial P&C market in the third quarter, according to the latest survey conducted by the Council of Insurance Agents & Brokers (CIAB).
  • US commercial P&C bellwethers Travelers and Chubb opened the third quarter results season by revealing a continuation of the competitive domestic pricing environment.
  • Hurricane Matthew could have shocked the retro market and corrected US property cat pricing if it had tracked just 30 miles further west, Validus CEO Ed Noonan has said.
  • An aggregate of maximum loss estimates from Hurricane Matthew has already surpassed the $1bn mark after a number of US and Bermudian carriers disclosed their loss forecasts during third quarter results.
  • Aon, Brown & Brown and AJ Gallagher (AJG) delivered improved year-on-year results in the third quarter, while Marsh & McLennan Companies (MMC) produced figures in line with its performance in the same period of 2015.
  • The third quarter brought diminishing returns, rising combined ratios and slowing reserve releases for the major US insurers reporting at the outset of the results season.