January 2012/5

Aegis in London leads the programme for Xcel Energy's Sherburne County Generating Station (Sherco 3), where a recent fire is expected to cost the power market up to $180mn, sister title Inside FAC understands.

Underwriters of directors' and officers' (D&O) policies covering the IPOs or reverse takeovers (RTOs) of Chinese companies listing in the US could face claims of more than $250mn, according to sources.

Brown & Brown CEO takes leave; Ironshore opens in Singapore; Sangria on Aon; Joachim adds EUR300mn; Xchanging signs Hurst-Bannister; Atkins takes LMA helm; Tawa closes turnkey buy; Nelson awaits London influx; Greenlight fined for market abuse

Lloyd's is considering whether it has the appetite for a radical overhaul of its processes in an initiative which could cost the market at least £100mn-£150mn.

While the most widely read annual letter to shareholders undoubtedly carries a Nebraska postmark and is signed by a certain Warren Buffett, our sector is lucky to have another willing scribe documenting and demystifying life in the (re)insurance world on behalf of investors.

American Agricultural (Ag), the reinsurer of choice for most farm bureaus in the US, has clarified market misconceptions arising from changes to its major 1 January cat retro placement after it restructured cover to overcome capacity issues.

As reinsurers turn their attention to the 1 April renewals, Japanese "big three" insurer NKSJ has significantly inflated its gross loss notification for the Thai floods to 260bn yen ($3.35bn).