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  • The industry's largest reinsurance broker unveiled a major management restructure last week that includes a new CEO and a closer alignment with its bigger corporate risks sibling, Aon Risk Solutions (ARS).
  • The recent terrorist attack on the Westgate shopping centre in Nairobi could inflict the largest loss on the terrorism market since the Bangkok riots in 2010, according to sources.
  • Both the downstream and upstream energy markets are likely to be under pressure going into 2014 amid a surplus of capacity chasing a limited amount of premium, according to Willis.
  • Legacy acquirers Enstar and Catalina held takeover talks with stricken US (re)insurer Tower Group after the company's share price continued to weaken dramatically amid uncertainty over the size of its reserving black hole, The Insurance Insider can reveal.
  • The California Earthquake Authority (CEA)'s risk transfer programme for 1 August decreased limit by 8 percent to a total of $3.1bn, driven mainly by a reduction in collateralised participation, according to August meeting documents published last week.
  • The outlook for continued rate hardening in the excess and surplus (E&S) lines markets appears to be diminishing amid an abundance of capital and capacity, according to underwriters and brokers attending the Napslo conference in San Diego.
  • Medical malpractice specialist ProAssurance announced last week that it has agreed to acquire workers' compensation writer Eastern Insurance Holdings in an all-cash deal that values Eastern at $205mn.
  • Bailed-out Spanish lender Bankia has sold a 12 percent equity stake in Mapfre, the country's biggest insurer, raising about EUR1bn and reducing its holding in the company to just 3 percent.
  • Liberty restructure, Lloyd's losses, Amlin downgrade, Gulf boom, Aviva reshuffle, Axa buyout and Aon down under
  • Dublin-domiciled (re)insurer XL Group has said it expects to absorb a net loss of $60mn from severe hailstorms that struck Germany in late July, confirming its status as one of the costliest weather-related events so far in 2013.