April 2015/4

PartnerRe shareholders are likely to welcome Exor's unsolicited $6.4bn all-cash bid for the Bermudian reinsurer, following concerns that the all-share merger agreement with Axis undervalued the company.

The market is still waiting to see how Axis will respond to the gauntlet laid down by the Agnelli family last week when it submitted a $6.4bn all-cash counter bid for PartnerRe almost three months after the two Bermudians struck their deal.

Cat bond issuance in the first quarter of 2015 hit a record $1.86bn, rising 21 percent year-on-year to comfortably beat the $1.54bn placed in Q1 2014, according to data compiled by sister publication Trading Risk.

Florida Property Citizens Insurance is seeking $250mn of cover for its 2015 Everglades Re bond, sister publication Trading Risk reported last week.

American International Group (AIG) shares that have been trending solidly up since the start of February were given a ringing endorsement last week in a pair of bullish analyst notes with "buy" recommendations.

Canada's Public Sector Pension Investment Board (PSP) has completed its strategic investment in Amwins that values the US wholesale giant at $2.3bn - a move first revealed by The Insurance Insider last month.

TigerRisk's coup in luring Tony Ursano from Willis Capital Markets & Advisory (WCMA) is designed to present an integrated face to the market that reflects an agnostic approach to the sources of insurance and reinsurance capital.

East coast-focused US personal lines insurer Interboro Group has been placed up for sale as its backers look to exit their stakes, The Insurance Insider can reveal.

Cooper Gay Swett & Crawford's Ebitda surged in 2014 after a strong second half mitigated damage done in the first, but the company's valuation was still marked down sharply, according to documents obtained by The Insurance Insider.

US insurer American Financial Group (AFG) has announced the sale of its $1.2bn legacy book containing long-term care and life reserves to publicly traded holding company HC2.

Global broker Aon has rolled out a new directors' and officers' (D&O) facility for the Lloyd's market, according to sister title Inside FAC.

Dave Ingrey's proposed new $50mn US homeowners' property insurance start-up is aiming for a mid-year launch to target cat-exposed programme business written for its own book and as a fronting carrier.