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  • Almost a month after Superstorm Sandy's landfall in New Jersey there is still huge uncertainty around the scale of (re)insured losses.
  • Kohlberg Kravis Roberts & Co (KKR) and Onex Corporation have acquired Alliant and USI Holdings respectively in the two most significant broker M&A transactions this year
  • UK outsourcing giant Capita plc has been censured by UK regulator the Financial Services Authority (FSA) over the collapse of the Arch Cru funds
  • Up-for-sale (re)insurance services provider and run-off buyer Tawa plc is seeking cost savings that will likely lead to mass redundancies at its services companies
  • UK outsourcing firm Xchanging is poised to announce the hire of a senior Hewlett Packard executive to head its growing insurance practice
  • London-listed run-off-to-live services company Randall & Quilter Investment Holdings (R&Q) has continued its piecemeal acquisition strategy with the purchase of the legacy Finnish reinsurer, Alma Insurance Company Ltd.
  • Global reinsurer Swiss Re has revealed a net estimated $900mn pre-tax net loss from Hurricane Sandy, based on an industry loss of $20bn-$25bn
  • Lloyd's and international (re)insurer Catlin believes that insured losses from Hurricane Sandy are likely to fall short of the $25bn-$30bn top end of current estimates.
  • American International Group (AIG) plans to launch a new joint venture with the soon to be floated People's Insurance Company of China (PICC) after subscribing for about $500mn of PICC Group shares.
  • The race for UK motor insurer Equity Redstar appears to be hotting up after a report in UK national daily The Independent suggested that Eddie Truell's Disruptive Capital had gained preferred bidder status.