March 2007/3

Catlin Group has agreed to pay £16mn to Names who traded Wellington capacity in the Lloyd's auctions last year before the two insurers announced they were in takeover talks.

Markets responded in mixed fashion to the UK-listed insurers last week as consensus-beating figures didn't always translate to corresponding share performance.

Western Australia has been hit by two cyclones, George and Jacob, over the past few days as the warning signs to (re)insurers that the wind could return with vengeance this year continue.

UK general insurer Royal & Sun Alliance (R&SA) saw its 2006 results slip into the red following the successful completion of the sale of its legacy US business, Arrowpoint Capital.