November 2007/1

China Reinsurance Group, the country's largest reinsurer, is planning an initial public offering (IPO) after inviting "strategic" investors to buy stakes, according to a statement from the company last week.

Bermudian insurance start-up Ironshore Inc has made a significant step in its roll-out strategy with its acquisition of a US admitted insurer Stockbridge Insurance Company from Folksamerica Reinsurance Co.

The board of Willis Group Holdings has approved a new $1bn stock buyback plan.

Fast-expanding (re)insurer MAPFRE SA announced its boldest move yet when confirming last week its $2.2bn acquisition of the Massachusetts-based non-life personal lines insurer The COMMERCE Insurance Company.

US insurer Liberty Mutual Group has boosted its asbestos reserves by $67mn post-tax following the completion of a "comprehensive ground-up study", it revealed in its third quarter results.

Investors reacted positively to Aon's news last week that it is to impose a fresh restructuring that will lead to the loss of 2,700 jobs, the equivalent of 6 percent of its global workforce.

Despite a general weakness in bancassurance business, Italian insurance giant Assicurazioni Generali has shown "solid" progress in its year on year nine month results.

"Class of 2005" insurer Lancashire Holdings Ltd said the third quarter had been its "best yet" with net income of $105.2mn up 100 percent from $52.6mn in the prior-year period.

Canadian conglomerate Fairfax Financial Holdings Ltd bounced back to a third quarter profit of $253.2mn from a loss of $359.2mn in the prior-year period.

Bermudian reinsurer Endurance Specialty Holdings has reported a small rise in income against a background of falling written premiums in the third quarter last week.