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The review follows the move by Brickell to terminate its acquisition plans, as AM Best noted an expected 2021 loss for R&Q of $135mn-$145mn.

The world’s largest aircraft lessor AerCap has sued Russian cargo carrier Volga-Dnepr Airlines for £339mn ($427mn), accusing it of using sanctions as cover to keep eight Boeing airplanes in the latest dispute stemming from the Western crackdown on Moscow, according to Law360.

The merger of the two clubs, announced in March, will form one of the largest mutuals in the sector.

Amid concerns around increased digitalisation in the insurance sector, the PRA will soon publish a discussion paper on new measures.

Some cedants remain far behind in a stressed renewal, but others are on the path to completion in a reshaped Florida market.

Global reinsurance capital grew by 3.8% last year, according to Aon’s analysis of 22 reinsurers.

Plus latest people moves and all the top news of the week.

The carrier is planning to ramp up its involvement in the class as part of its primary lines buildout.

The EU, meanwhile, is proposing a law that would allow EU governments to confiscate assets of companies and individuals that try to avoid EU restrictions against Russia.

Axis class construction underwriter Ian Smith looks set to leave his role at the company, Insurance Insider can reveal.

The tycoon spearheaded efforts to oust CEO Philippe Donnet, which failed at last month’s AGM.

The additions would lift Canopius’ current employee base of around 680 employees by around 7%.