November 2014/4

White Mountains' reinsurance subsidiary Sirius is set to close its insurance-linked securities (ILS) fund in 2015, however its Sirius Capital Markets (SCM) division will remain open, sister publication Trading Risk revealed last week.

Florida carrier HCI Group faces the prospect of shareholder class action suits over compensation granted to its CEO and board of directors in 2013

(Re)insurers are bracing themselves for losses after wintry weather more typical of January and February engulfed much of the US last week

Acquisitive Hyperion subsidiary Howden Broking Group announced two additional broking M&A transactions last week, bringing its tally to three for the month to date

Newly approved adjustments to the UK's state-backed terrorism vehicle Pool Re could make the programme increasingly competitive

Lancashire-owned Cathedral Group is pre-empting capacity on its aligned Syndicate 3010 from £60mn to £100mn for 2015 after adding new underwriting teams this year

Embattled UK insurance outsourcer Quindell endured more upheaval last week following the departure of its founder and chairman Rob Terry

A major restructuring of UK broker consolidator Towergate looks inevitable if any one of a number of private equity houses looking at the indebted business ultimately gets their way

Kidnap and ransom (K&R) underwriters have told this publication that proposed introduction of the Counter-Terrorism and Security Bill will have little effect on their business.

Ken LeStrange has returned to the market as chairman of Orchid Underwriters Agency, LLC after a management buyout of the Florida-based managing general agency earlier this month backed by private equity firm Gryphon Investors, The Insurance Insider can reveal.

Bermudian carrier Everest Re is to open a new continental operation in Zurich, The Insurance Insider has learned.

China Re's standalone syndicate, Syndicate 2088, has been formally approved and will officially begin incepting risks on 1 January.