August 2016/3

Matt Fairfield's forthcoming (re)insurance start-up Exin is at the nexus of a range of different industry developments witnessed in recent times.

Was there ever such a thing as a pure reinsurer and if so were they especially prized?

PartnerRe has decided to discontinue the insurance unit that supported most of its managing general agency (MGA) relationships, The Insurance Insider can reveal.

PartnerRe's head of direct and facultative (D&F) Dom Tobey is set to leave the company following a broader management restructure, sister title Inside FAC revealed earlier today.

Lloyd's insurer ArgoGlobal is likely to discontinue its aviation book following the departure of head of aerospace Richard Bayman.

Bermudian carrier Arch is expected to take a portion of a $660mn energy casualty claim from Sempra Energy following a historic natural gas leak.

Ireland is calling attention to itself as an attractive alternative jurisdiction for insurance companies wanting to passport into the European Union (EU) following the UK's vote to leave the bloc.

Warren Diogo has left Ascot Underwriting after more than nine years at the Lloyd's carrier, The Insurance Insider understands.

Andrew Maher, cyber underwriter at Beazley, is leaving the firm to lead Markel International's push into the US market, The Insurance Insider understands.

The Italian insurance regulator IVASS has suspended China Taiping UK's agent in the country, Tempo Underwriting, from writing new business after a number of its policies were found to be "counterfeit".

Contingency policies purchased by the organisers of the Olympic Games in Rio de Janeiro will not cover losses that are found to have been caused by internal errors.

Zurich's Q2 disclosures provided glimmers of a turnaround, but questions remain over the ability of the carrier to continue these improvements beyond 2016.

Floods hit Louisiana; Canterbury claims hit $13bn: ICNZ; Hyperion partners German broker; Liberty Mutual ups stake in Indian venture; PRA issues guidance on SII remuneration; Markel Catco returns up

International piracy activity has fallen to a 21-year low, as pirates increasingly seek ransoms from the kidnapping of crews instead of looting cargo, according to the International Maritime Bureau (IMB).

Most carriers are unlikely to contract out of parts or all of the Insurance Act that came into force in the UK on Friday (12 August), according to Richard Breavington, partner at law firm RPC.

Operating returns for Bermudian carriers came under pressure in the second quarter of 2016 as a stream of cat losses narrowed underwriting profitability.

Gross written premium (GWP) growth at London-listed Lloyd's carriers rebounded in the second quarter of this year to 7.8 percent, after three of the group increased their reinsurance buying to expand their books

Reported losses from the wildfires that tore through the Canadian province of Alberta in May have now reached $2bn, according to Q2 disclosures.

The global reinsurer composite recorded the largest weekly share price growth last week, increasing by 1.8 percent on average, while The Insider 30 traded flat.

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

Underwriting margins for the listed Lloyd's carriers narrowed in the first half of 2016, as combined ratios were swollen by larger expense and loss ratios.