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September 2016/3

  • Share price data on The Insurance Insider's universe of P&C (re)insurers
  • Most carriers in our coverage universe registered modest share price increases last week, but the clear outliers were euro-denominated stocks, which climbed by mid-single digits.
  • Global specialty insurers and reinsurers, particularly those trading in the Lloyd's market, are struggling to deal with a mounting expense problem.
  • Scor intends to appeal the European Commission (EC)'s decision over the state guarantee provided to French reinsurer Caisse Centrale de Réassurance (CCR) to the EU's Court of First Instance.
  • Proposed changes to the Maritime Labour Convention (MLC) could see marine mutual protection and indemnity (P&I) clubs become liable for sailors' unpaid wages.
  • CFO Fry to leave Novae; Argo launches cyber division; CEOs considering moving operations: KPMG; Moody's upgrades Scor; Everest Re appoints; Aspen Re promotes; China Re profits plunge; Jubilee losses covered; R&Q splashes out on acquisition; Arch launches share offering; The Hanover makes senior hire; Yahoo accounts hit by hack; Aspen takes on LSM regional P&C business; Fuhrman leaves CRC; Rockhill to rebuild E&S property platform.
  • Headline profits went up, but in truth it's difficult to find many real positives in the latest set of results from Lloyd's.
  • An investment-driven increase in pre-tax profits in the first half of 2016 could not mask the mounting challenges for the Lloyd's market, as underwriting profits crashed and rates continued to deteriorate.
  • A team of up to 14 property underwriting executives have followed Tracy Upton from Everest National to Rockhill Insurance Group, The Insurance Insider can reveal.
  • Mutual insurers in the P&C space reported only "moderate" growth in net written premium (NWP) last year, according to a report from rating agency AM Best.
  • Flexibility was the main reason behind Brit establishing a Names capital-backed syndicate, according to the carrier's group deputy CEO.
  • Peter Scales' start-up is not without its detractors, and this publication published an opinion piece last week exploring the question of what value a new start-up can add to the market at this stage of the cycle without a transfer book.
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