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  • Bermudian (re)insurer Alterra Capital holds about a 35 percent stake in its latest New Point retro sidecar, according to a filing made by the company.
  • Troubled French mutual Groupama has continued the divestment of its non-core operations with the sale of 100 percent of its Spanish operations to Catalana Occidente for EUR405.5mn, it was announced last week.
  • Amendments to the UK legislation seeking a requirement that regulators behave in a reasonable and fair manner, as well as acting proportionately, have been tabled in the UK upper chamber, the House of Lords.
  • In a move that will impact syndicate business planning for 2013, Lloyd's has reset the thresholds on exposure to a major catastrophic event.
  • The London contingency market could face a claim from promoters of Radiohead's North American tour as a result of the stage collapse in Toronto last weekend, sister publication Inside FAC has learned.
  • The Lloyd's market is lacking a unified approach to international expansion, as the top players in the market adopt hugely different strategies to grow their worldwide business, according to a panel of senior (re)insurance executives at the 2012 London Market Roundtable, hosted last week by The Insurance Insider in association with the Qatar Financial Centre Authority (QFCA).
  • Bermudian (re)insurer Axis Capital has fired its chairman and founder John Charman and reinstated former chairman Michael Butt OBE after disagreements over the responsibilities involved in the role.
  • The Insurance Council of Texas (ICT) has estimated insured losses from the recent hailstorms in Dallas at just under $1bn - significantly less than the $2bn put forward by another local trade body last week.
  • Veteran property cat underwriter Brian Caudle has retired as chairman at Lloyd's managing agent Advent after 60 years in the market.
  • Mining underwriters are expected to escape the bulk of losses following severe flooding at the Yallourn mine in Australia earlier this month, our sister publication Inside FAC revealed.