July 2007/1

German bank HVB Group said it has completely divested its remaining stake in Munich Re, which was equal to about 2.2 percent of the voting rights.

Lloyd's has taken another stride towards an automated market by providing underwriters and brokers the opportunity to use technology to provide support for checking insurance slips.

Dutch financial services company ING Group announced last week that it has reached an agreement with P&V Verzekeringen to sell its Belgian Broker and Employee Benefits insurance business for EUR750mn.

Swiss Re is involved as counterparty in the first insurance linked securities transaction to reference an existing cat bond as a trigger with the launch of $140mn Fusion 2007 Ltd.

Guy Carpenter has swooped for Chris Klein, the chairman of rival Benfield Group's counterparty risk unit.

AIM-listed Lloyd's insurer Heritage Underwriting Agency plc has bolstered its ranks with the hire of international general liability underwriter Mark Aaron from ACE.

A proliferation of extreme natural disasters is expected in the next 25 years, resulting in record insured losses and massive loss of life, according to predictions by Professor Bill McGuire...

SCOR took a further step toward closing its deal for Converium last week after being given the nod by Switzerland's Federal Office of Private Insurance (FOPI) to buy more than 50 percent of the reinsurer's share capital and voting rights.

Flagstone Reinsurance Holdings has further bolstered its underwriting operations with a $100mn issue of debt.

The British Insurance Brokers' Association (BIBA) has criticised the Financial Services Authority's (FSA) long awaited consultation paper proposing amendments to its Insurance Conduct of Business (ICOB) rules.

Private equity investors The Blackstone Group and DLJ Merchant Banking Partners will sell their stakes in Bermudian (re)insurer Aspen Insurance Holdings Ltd in an underwritten public offering.

Lloyd's insurer Chaucer is likely to be a target for Bermudian (re)insurers and private equity firms, according to Eamonn Flanagan at Shore Capital.