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.