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  • Markel has decided against moving its domicile to Bermuda as part of its deal with Alterra, stating that it is "almost impossible" to structure the deal in such a way and retain the tax benefit.
  • Most of the ratings agencies have reacted positively to Alterra's proposed acquisition by Markel, with Moody's the only one of the four major agencies to put the companies on negative outlook.  
  • Global broker Willis has announced it will take circa $750mn of non-cash impairment charges in its fourth quarter accounts for HRH-related goodwill write-downs and a change in its treatment of retention bonuses.
  • Meadowbrook, the US insurer facing a damaging downgrade by AM Best, has entered into a quota share with Swiss Re as it seeks to bolster its capital position.
  • The sell-off that decimated Markel's stock trading premium after the US specialty insurer's proposed takeover of Alterra was announced appears a strong indication of investor displeasure.  
  • R&Q buys Guernsey captive; Taking charge; Tower-Canopius create £70mn Lloyd's SPS; AmWINS acquires; RSA spin-off; Rate rises slow;
  • Superstorm Sandy is set to be Lloyd's third-worst loss ever, trumped only by Hurricane Katrina and the 9/11 attacks.
  • Marine reinsurers have been notified that the Costa Concordia loss has worsened yet again, just a month after the protection and indemnity market was rocked by an earlier deterioration.  
  • Timing, we are always told, is everything and this certainly applies to successful leaders identifying the right moment to move on.
  • The stamp capacity of the Lloyd's market will be a record £24.9bn ($40.5bn) in 2013, an exclusive survey carried out by The Insurance Insider has shown