December 2011/2

Flagstone-managed Apollo Syndicate has signalled its intention to diversify into the marine market by luring across Chaucer's senior cargo and specie underwriter Simon Le Mare, The Insurance Insider can reveal.

Kiln Syndicate 1880 is in line to take $700mn of gross losses from its reinsurance of the Tokio Marine Sri Muang joint venture in Thailand, The Insurance Insider revealed last week.

Loss-struck US insurer State Auto Financial (SAF) should consider putting itself up for sale, according to Langen McAlenney analyst Larry Greenberg.

The California Earthquake Authority (CEA) has lined up the second $1.25bn portion of its 2012 reinsurance programme, according to board meeting materials posted on its website.

Groupama's UK arm could go on the block as the French mutual seeks to sell assets to bolster its ailing financial position.

Ratings agency Moody's has joined Standard & Poor's (S&P) in casting doubt over EU sovereign ratings as the debt crisis continues to rumble on and in spite of last week's major "summit to save the Euro" in Brussels.

Gallagher UK will complete its carpet-bagging of Oxygen Insurance Brokers when it closes a deal to acquire the rights to its Yorkshire-based corporate risks business, The Insurance Insider can reveal.

ACR: $55mn lossAsia Capital Re (ACR) - the second largest reinsurer in Singapore by premium income - has defied market expectations to declare net losses from the Thai floods of around $55mn.

Willis-backed insurance investor Hendiatris is still doing the rounds to sign up investors and will not be quoting for 1 January renewals, The Insurance Insider has learned.

Lloyd's of London is concerned that the UK government's exit from EU-wide talks on economic and fiscal policy could harm the country's ability to steer the direction of future policy on continent-wide financial regulation.

It is not often that The Insurance Insider gets embroiled in the intricacies of EU diplomacy, but the events of last week and the UK's decision not to support a new treaty with its 26 fellow members is significant enough to warrant analysis.

The top stars of the (re)insurance firmament were left contemplating a major re-alignment today as two major industry chief executives signalled their departures.