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  • The Insurance Insider's index of P&C (re)insurance companies rose by 1.04 percent in the week to hit 1,055.5 points.
  • Despite intense market competition and rate declines, US specialty carriers found areas where they believed they could grow profitably in the fourth quarter of 2016. The carriers wrote 4.8 percent more business year-on-year.
  • Underwriting performance in The Insurance Insider's US specialty composite deteriorated in the three months to 31 December for the first time in the past five years.
  • The profitability of the London market showed a marked deterioration in the fourth quarter, with several Lloyd's arms of international carriers posting combined ratios of over 100 percent.
  • The high level of commissions and operating costs in Lloyd's and the London market are unsustainable and put carriers at a "competitive disadvantage", Navigators CEO Stan Galanski has claimed.
  • Allied World-Elseco aviation deal; Marsh offers Brexit ‘plan B'; National Lloyds sale pulled; Nichols resigns as Axis Re CEO; NSW losses hit $53.8mn; Enstar to sell Pavonia life for $120mn; Chubb names Europe COO; Bahrain insurer mergers; Greenberg divests $26mn Validus stake; Investment result boosts Brit; IAG InsurTech hub launch; Tower under review; Fairfax $1bn investment loss; Swiss Re appoints global claims head; Arcus syndicate manager; Soft US P&C market to continue; Maiden auto re
  • Declines in global insurance rates moderated throughout 2016 amid early signs of capacity withdrawal and rising combined ratios, according to Marsh.
  • A 3 percentage point cut in the UK's Ogden discount rate for personal injury compensation would lead to a one-off reserve charge for the insurance industry of about £4.9bn ($6.1bn), according to Willis Towers Watson.
  • Insurers could face additional earnings pressure and further reserve strengthening as a result of a cut to the so-called Ogden rate, which is expected to be announced later this month.
  • Allianz CEO Oliver Bäte has roundly rejected suggestions his firm's EUR3bn ($3.2bn) share buyback means it is no longer considering M&A deals, and claimed the carrier had the financial strength to do both.