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  • Transatlantic Re was "worth more dead than alive" to Stone Point Capital and the bid consortium that included Enstar in last year's tussle for the US reinsurer.
  • Deal hungry private equity (PE) firms will remain at the centre of (re)insurance M&A in 2012-13, predicted Tony Ursano, speaking at The Insurance Insider's annual New York conference today (8 May)
  • The two-year legal battle that followed the mass defection of employees from CRC to the wholesale arm of Ryan Specialty Group (RSG) is over, after parties reached a global settlement over ongoing poaching disputes
  • Solvency II's disproportionately high capital charges for securitisations could discourage insurers using the standard model from investing in the products, Fitch has warned.
  • The insurance industry must do more to meet the risk management needs of its clients in order to avoid a "lost decade" of stagnating premium income, according to Mike Kerner, CEO of Zurich Insurance Group, North American global corporate segment.
  • BP has won preliminary approval from a New Orleans court for an estimated $7.8bn settlement agreement to resolve claims by private sector plaintiffs over damages arising from the 2010 Deepwater Horizon incident.
  • Continued staff departures, client moves and financial woes are making it more likely that beleaguered law firm Dewey & LeBoeuf will close its doors in the near future, according to reports.
  • USAA, the military insurer that also doubles up as a cheerleader for the insurance-linked securities (ILS) sector, is seeking to raise at least $150mn from a new Residential Re (Res Re) 2012 cat bond, which would take total issuance this year to $3.3bn.
  • Amlin-backed ILS fund manager Leadenhall Capital Partners has taken in another $65mn into its funds, taking its assets under management above the $650mn mark, the company revealed last week.
  • Reinsurers have reported more than $300mn of losses from a spate of US tornadoes that struck in the first quarter of the year, analysis from The Insurance Insider shows.