November 2014/3

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

P&C (re)insurance stocks drifted back into negative territory last week, as our index of publicly listed carriers - The Insider 30 - dwindled by 0.45 percent, lagging behind the performance of the wider market.

Regulatory issues are obstructing London's ability to write business in emerging markets, the chief executive of the International Underwriting Association (IUA) Dave Matcham has said.

Five international reinsurance supervisory authorities have been recommended to receive qualified jurisdiction status within the US, the National Association of Insurance Commissioners (NAIC) said last week.

The Financial Stability Board (FSB) has pushed back the timing of its decision on whether any reinsurers should be deemed systemically important to 2016.

Credit Suisse Asset Management (CSAM) has closed its new run-off fund - the ILS Property & Casualty Fund - with $576mn of capital commitments, as of 30 September.

Randall & Quilter (R&Q) chairman and CEO Ken Randall has told The Insurance Insider that the legacy-to-live company's recent profit warning was "not a disaster", arguing that although it would have a material impact on profits the impact on reserves would be muted.

The US government is now unlikely to call former American International Group (AIG) boss Maurice "Hank" Greenberg to the stand in the lawsuit against it, after documents revealed he had been dropped from the list of planned witnesses.

(Re)insurers on both sides of the Atlantic are expected to step up their capital management efforts through increased dividend payouts in the coming quarters as the sector addresses swollen balance sheets and dwindling opportunities for profitable growth.

Having delivered double-digit returns in the third quarter of 2013, the operating return on equity (RoE) for our composite of six Bermudian carriers fell by 2.1 percentage points to 8.6 percent in Q3 2014.

Top-line growth accelerated for The Insurance Insider's composite of Bermudian carriers during the third quarter of 2014 despite the competitive marketplace.

Despite softening market conditions, The Insurance Insider's composite of short-tail carriers delivered top-line growth during the third quarter of 2014 as (re)insurers repositioned their books of business.