July 2016/1

Although there was evidence in some international territories of a slowdown in rate softening, price falls still typically outstripped the US for P&C reinsurance lines, according to mid-year renewal data from Willis Re.

There was further evidence of slowing rate reductions for US P&C placements at the 1 June and 1 July reinsurance renewals, according to Willis Re.

Brazilian national reinsurance giant IRB-Brasil Resseguros (IRB) has been exploring the sale of its London-based carrier now in run-off, The Insurance Insider understands.

Major Chinese conglomerate Fosun has entered the legacy space after a period of prolonged flirtation by backing Armour's pending acquisition of The Hartford's £452mn ($595mn) London market book, The Insurance Insider can reveal.

The management of Ark has made the final payment in its audacious staggered purchase of the Lloyd's insurer.

Recently acquired Tokio Marine HCC has recruited a trio of marine executives from XL Catlin's hull division, The Insurance Insider can reveal.

Reality check. The UK is out of the European Union and barring a miracle or a massive political U-turn it will not retain passporting rights to do cross-border business in the European Economic Area.

Peter Scales and his former Cathedral colleagues are on course for a 1 January start-up at Lloyd's, defying the current market belief that a Lloyd's business cannot be put together inside of a year.

The UK's momentous decision to leave the European Union has eclipsed everything else in the news agenda in the days since the verdict was delivered, and ushered in a period of fevered political interest.

Axis Capital and Blackstone-backed total return reinsurer Harrington Re has launched after completing a $600mn capital raise and securing an A- financial strength rating from AM Best.