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October 2015/4

  • Share price data on The Insurance Insider's universe of P&C (re)insurers
  • Allied World shares suffered last week as markets reacted to the carrier's mixed third quarter results.
  • The UK House of Lords has considered the Enterprise Bill less than a week after members of the London market wrote to the economic secretary to the Treasury Harriet Baldwin to stress that one of the proposals was "fundamentally flawed".
  • Travelers was forced to bolster its asbestos reserves by a further $224mn in the third quarter of 2015, as the shift towards strengthening reserves showed no sign of abating.
  • Global capacity for power and utilities lines remains buoyant at $4bn, with falling rates, new entrants and low catastrophe losses contributing to the soft market conditions, according to Marsh.
  • US cyber insurance business has seen double-digit rate increases at the latest renewal, as the market responds to recent large losses and a surge in demand for cover, according to new figures from Marsh.
  • US primary casualty rates are falling for most buyers for the first time in the current soft market, according to broker Willis.
  • Lower combined ratios, improving operating returns and falling catastrophe losses characterised Q3 earnings for the trio of major US insurers that reported last week.
  • US commercial P&C bellwethers Travelers, Ace and Chubb all reported the impact of an increasingly competitive domestic landscape when they opened the third quarter results season last week.
  • Developing a fully-fledged business integration plan and appointing an integration leader long before completion of an acquisition is absolutely key to successful M&A, senior London market executives agreed last week.
  • Besso is set to sell its capital markets unit Optex Group to Guernsey-domiciled asset manager Providence Global, Optex CEO Andrew Martin told sister publication Trading Risk.
  • New pastures for Donnell; Greenlight Re negative outlook; US wildfire losses; Investments hit Allied World; ANV signs partnership with PartnerRe; Price Forbes mines Lockton; Travelers shies away from M&A; Ferguson joins Price Forbes; Murphy exits IAG; Sciemus hires Welsh; Sciemus hires Welsh; Mosquera joins Arch Re; Mosquera joins Arch Re.