December 2013/3

An opportunistic reinsurance purchase by XL Capital has cemented an ultra-soft professional lines reinsurance market with just weeks left before the 1 January renewal deadline.

Aon Benfield's move to test the softness of the property cat market with an eleventh hour initiative to significantly broaden terms on its US placements has met with considerable pushback from reinsurers, The Insurance Insider understands.

The property catastrophe placements for Liberty Mutual and American International Group (AIG) have shone a spotlight on a marketplace that is increasingly divided into a group of favoured reinsurers inside the "Magic Circle" and another group of struggling carriers peering in from the outside.

US property cat specialist insurer ICAT has named Megan McConnell as the new active underwriter at its Lloyd's Syndicate 4242.

Robert "Bob" Allen has become the latest senior executive to leave the downsized US operations of Torus Insurance, The Insurance Insider can reveal.

Oil capacity up; Old Mutual CFO to leave; Ward joins Brit; New HQ; Stability boost; SAC Re review; Germany rising; Millburn administration; Kiln recruits; India reform; Willis hires; Hartford disposals; Allstate boost; Swiss Re upgrade; PI growth; Howden expands; QBE down

Michael Watson-led Lloyd's carrier Canopius is likely to clinch a $1bn all-cash sale to Japanese big three member NKSJ within days, The Insurance Insider understands

Lloyd's has formally named Inga Beale, CEO of Lloyd's (re)insurer Canopius, as the market's first female chief executive, confirming a story published by The Insurance Insider on 13 December.

After 325 years Lloyd's has lost absolutely none of its powers of reinvention.

London-listed carrier Novae has submitted a bid for up-for-sale Lloyd's peer Antares that it would have to finance via a nine-figure rights issue, The Insurance Insider can reveal.