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  • UK-based aerospace insurer Global Aerospace has announced the reorganisation of its pool following the recent downgrade of 10 percent member Mapfre SA by Standard & Poor's (S&P).
  • The recent loss of the A- financial strength rating for Spain-headquartered (re)insurer Mapfre has revived an almost forgotten tradition - that of the downgrade before a major industry conference.
  • Zurich Insurance Group and Travelers reminded investors of potential issues around reserve adequacy by disclosing more than $700mn of reserve strengthening last week.
  • Reinsurance broker Aon Benfield is planning to launch its own catastrophe model for European wind risk starting with the German market in 2013, The Insurance Insider has learned.
  • Private equity giant Apollo is gearing up to take on European life insurance and reinsurance risk after signing up a team of ex-UBS staff as consultants, The Insurance Insider can reveal.
  • Private equity-backed insurer ProSight Specialty Insurance has hired a senior London market figure to become the active underwriter of its Lloyd's Syndicate 1110.
  • One of the side effects of the rich crop of results that is expected from reinsurers in a cat-free 2012 is that it will add to the downward squeeze on rates at the key 1 January renewals.
  • Shares in JLT Group came under pressure last week after the UK-listed broker said its reinsurance arm will report weaker profits in 2012 than last year.
  • The spread between the price of Flagstone Re's shares and the current value of Validus' stock and cash offer for the company has narrowed over the past month, suggesting increased confidence that the deal will complete without a rival bid.
  • The sale of Lloyd's business Atrium finally looks set to start in earnest after the insurer's private equity (PE) backers appointed investment bank Keefe Bruyette & Woods (KBW) to handle the auction, The Insurance Insider can reveal.