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November 2016/2

  • Share price data on The Insurance Insider's universe of P&C (re)insurers
  • One of the most distinctive characteristics of the third quarter results was investors' swiftness to penalise companies with poorer-than-expected earnings.
  • A former senior underwriter in Tokio Marine Global's New York office is suing his former employer after claiming he was dismissed because of his Indian roots.
  • Everest National has fought back against a bid by Rockhill to have a poaching case, which alleges piracy and a conspiracy to steal trade secrets, dismissed by a US court.
  • Alliant has again found itself in the US courts in relation to its aggressive expansion strategy, with the California-based intermediary accused of risking price fixing allegations and breaching antitrust laws.
  • Reinsurance brokers offered few concrete answers to questions on how they planned to spur growth, after revealing Q3 organic growth figures that disappointed some analysts.
  • With only Heritage left to report, the third quarter earnings season for Florida's publicly traded insurers has provided further evidence of diverging loss experience driven by the assignment of benefits (AOB) crisis.
  • Carriers' top-end loss estimates from Hurricane Matthew have now surpassed $1.6bn, after AIG disclosed the largest single loss to date in its Q3 earnings.
  • Bermudian carriers benefited from another relatively benign quarter for cat losses as well as higher investment yields, which allowed operating returns to rise in spite of the challenging market environment.
  • The Insurance Insider's Bermuda composite reported a lower year-on-year combined ratio of 90.1 percent in Q3, the first quarterly improvement in the past year and a half.
  • Top-line expansion slowed down for Bermudian carriers during the third quarter, as both the insurance and reinsurance books registered low single-digit growth.
  • AIG is ahead of its planned 6 percent general operating expense reduction target for 2016, the insurer's CFO Sid Sankaran told investors last week.