February 2013/4

Goldman Sachs has completed the sale of 75 percent of its $1.4bn Global Atlantic reinsurance business through a private placement.

The rating agency AM Best has assigned B financial strength and bb issuer credit ratings with a stable outlook to $50mn Florida start-up Weston Insurance Company.

The currently profitable but hard-pressed airline aviation market is likely to face an additional squeeze if the agreed merger of American Airlines and US Airways goes through, market sources suggest.

The universe of potential buyers interested in the Qatarlyst electronic placement platform has evolved after the UK outsourcing giant Capita took itself out of the frame, The Insurance Insider understands.

Hiscox plc is looking to deepen its knowledge of the capital markets through its strategic relationship with Third Point Re and may look to expand into the insurance-linked securities (ILS) space in the future, according to its incoming chairman Robert Childs.

Reinsurers of Narragansett Bay Insurance Company (NBIC) remain confident that the company's losses from the storm will be retained within the second layer of its $460mn xs $20mn XoL cat programme.

Axis Capital CEO Albert Benchimol said the company's "guerilla warfare" strategy in building up an accident and health (A&H) book should begin to pay dividends by 2014.

It is "very unlikely" Nike bought cover on Oscar Pistorius's estimated $2mn sponsorship deal with the sports firm, underwriting sources told The Insurance Insider.

ProSight first; Generali grows; XL buyback; Ascot defies; Q-Re appoints Saacke; Validus Re upgrade; Tokio Marine Europe appoints; Alleghany books Q4 loss; IAG cuts losses; Argo appoints; Endurance hire; Swiss Re profits; Lancashire beats

Sagicor Financial has prevented a large number of new potential bidders from entering the sales process for its Lloyd's platform as it privileges speed of sale over price, The Insurance Insider can reveal

With the reporting season almost over for another quarter it is clear that our business is once again preparing to steady the ship and batten down the hatches in preparation for tougher times ahead

European insurers' ability to maintain progressive dividend policies amid moribund interest rates was given fresh scrutiny last week after markets reacted negatively to the shock dividend cut by London-based RSA.