February 2013/2

Aspen and XL grow; Arch acquires mortgage insurer; Manchester Underwriting recalls; S&P downgrades Beazley on ‘deficient' capital adequacy; Meier heads for the door at Universal; Validus affirmed; Lockton acquires Down Under; Axis spends $116mn on buyback; Lloyd's Council elected; R&Q share price surges

The cyber insurance market is "beyond embryonic but not out of the womb yet", according to Lloyd's performance management director Tom Bolt.

Lloyd's would seriously listen to applications from other alternative reinsurance capacity providers following the entry of Nephila, director of performance management Tom Bolt told The Insurance Insider.

Last week The Insurance Insider held its flagship InsiderScope London event for the fifth consecutive year.

As the deadline for the renewal of the mammoth, loss-affected reinsurance contract that covers the International Group (IG) of P&I clubs nears, signs are emerging that some markets have relaxed their negotiating stance.