October 2016/3

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

There are many compelling reasons to found an Asia-focused reinsurer.

Two of the listed Floridian carriers were the worst performers last week as claims began pouring in after Hurricane Matthew.

Benign catastrophe losses in the third quarter are encouraging analysts to increase their earnings per share (EPS) estimates for P&C carriers.

The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has made a number of payouts following Hurricane Matthew, including its largest payment to date of $20mn to Haiti.

The Swiss Re cat bond index rose 1.57 percent to reach 95.53 points on 14 October, clawing back the value that was lost while Hurricane Matthew made its way up the Florida coastline.

The proliferation of managing general underwriter businesses looking to enable and incubate smaller entrepreneurial underwriting outfits are the best chance that London has to rise to the cultural challenge posed by the current boom in insurance technology investment.

Beazley's head of energy Matthew Holmes has left the company, The Insurance Insider has learned.

BP Marsh profits rise; Typhoon Sarika makes landfall; Amwins investment; Irdai shelves mandatory listing; Gable in administration; Lemonade taps Liberty; Hamilton USA COO…

Willis Towers Watson has claimed it is "a question of when, not if" a long-term change occurs in the energy market, as rates continue to fall.

An explosion at one of BASF's major chemical plants in Germany on 17 October could result in a loss for the downstream energy market.

US rock band the Foo Fighters has agreed to settle its suit with entertainment insurance broker Robertson Taylor and a number of Lloyd's insurers for an undisclosed sum.

Samsung has no product recall cover in place for the faulty batteries in its Galaxy Note 7 phones, which look set to cost the South Korean technology giant $2.3bn.

Bermuda was left sodden but largely intact following its encounter with Hurricane Nicole late last week, with insured losses expected to be relatively slight, despite 120mph winds.

Managing general agency (MGA)-cum-broker Manchester Underwriting Management has appointed an investment banker to assist in a capital raise of roughly £5mn ($6mn), The Insurance Insider can reveal.

As loss estimates for Hurricane Matthew continue to be revised down, it is becoming increasingly clear the storm's impact will amount to little more than a manageable dent in Q3 earnings for (re)insurers.

Nine Merchants Re, a $500mn start-up led by former Aon Benfield Greater China CEO Steve Warwick, has become the latest in a wave of Chinese reinsurance start-ups.

Investment banker Scott Maries is to join Arch to work on its run-off vehicle, The Insurance Insider has learned.

Ever walk out of the movie theatre feeling short-changed?

Homeowners' specialist National Lloyds Insurance Company has been put up for sale by its New York-listed parent Hilltop Holdings, The Insurance Insider can reveal.