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  • Major Russian insurer Sogaz has written a comfort letter to London market brokers this week confirming that Bank Rossiya, which was slapped with US sanctions last week, no longer has a controlling stake in the company.
  • Catalina today (28 March) completed the purchase of run-off reinsurer Alea Group from buy-out firm Fortress Investment Group after receiving regulatory approval from the Bermuda Monetary Authority and New York Department of Financial Services.
  • Hiscox CEO Bronek Masojada has renewed his criticism of the proposed structure of the UK's Flood Re scheme as the draft legislation returns to the House of Lords for consideration.
  • UK composite insurer Aviva today (28 March) said its Aviva Investors fund management arm had agreed to sell boutique US equity fund firm River Road, as part of a strategy of simplifying its organisational structure
  • Lloyd's investment vehicle Helios Underwriting today (28 March) said it had paid £0.8mn ($1.3mn) in cash to buy Lloyd's limited liability member Bernul
  • Lloyd's carrier Brit Insurance today (28 March) launched its stock market flotation in London at 240p per share, towards the lower end of its initial indicative pricing range, and valuing the company at £960mn ($1.6bn).
  • Outsourcing firm Xchanging today (27 March) announced the launch of its Mobile Claims Agreement Service, an iPad application developed as part of its, X-presso suite of products.
  • Brit Insurance is set to float at 235p-240p, valuing the dedicated Lloyd's carrier at £940mn-£960mn, The Insurance Insider understands
  • The UK's Financial Conduct Authority (FCA) is one of just two regulators worldwide to have been awarded an A grade in an international ranking of financial supervisors based on their track record of handling investigations.
  • Lloyd's carrier Hardy Underwriting has hired Miles Osorio from fellow managing agent Montpelier at Lloyd's to take up the post of senior property underwriter, The Insurance Insider can reveal.