Berkshire Hathaway

The reinsurance community is expecting further demand for adverse development covers (ADCs) as a combination of soft market conditions, low interest rates and reserve adequacy concerns pushes carriers to scrutinise their back books.

Insurers that sold assets, including AIG and Assurant, slipped down AM Best's rankings of North American non-life, non-health carriers by total revenue, while a few, including National General and Mercury General, rose as their sales expanded.

Berkshire Hathaway chairman Warren Buffett has donated shares in the company worth $3.17bn to five charitable foundations including the Bill & Melinda Gates Foundation.

The 1.5x multiple Axis has agreed to pay to acquire Novae has sparked a market debate around the attractiveness of the deal for both parties.

Faraday CEO Steve Michael will hand over to CFO Andrew D'Arcy in October as part of a broader set of management changes at Berkshire Hathaway's Lloyd's platform, The Insurance Insider can reveal

Faraday's US property catastrophe treaty reinsurance team has resigned and will join the Lloyd's (re)insurer's former chief underwriting officer Mark Rayner at Apollo, The Insurance Insider can reveal

ProSight has placed its Lloyd's operation into orderly run-off after attempts to secure a live acquirer for the platform proved fruitless, The Insurance Insider can reveal