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  • AM Best added its endorsement to the agreed tie-up between Alleghany and Transatlantic Re today (23 November) amid a growing consensus that the five month battle for the US reinsurer is finally at an end.
  • Uncontested reports that UK and Lloyd's (re)insurer Brit is to sell its UK business unit highlight what appears to be a change in strategy at the private equity-owned vehicle that will see it concentrate efforts on its more traditional and better performing London market platform.
  • Lloyd's (re)insurer Kiln made its parent Tokio Marine a loss of 11bn yen ($140mn) in the six months to 30 September as its bottom line was hit by intra-group reinsurance losses borne by its Syndicate 1880.
  • Legacy acquirer Catalina Holdings has hired a new CFO/COO for its subsidiary Glacier Re as part of the firm's plan to expedite its run-off and expand its operations in Continental Europe.
  • Tokio Marine has broken with tradition by telling the market that it expects to hand on around 100bn yen ($1.3bn) to its reinsurers.
  • Shares in UK motor insurer Admiral have spiked 7 percent over the past two days to reclaim some of the territory lost after it made a profits warning earlier this month, following reports the firm might be considering making a special £1 dividend
  • Thai Re is set to face an imposing claims burden from the Thai floods as it reaps the consequences of the 5 percent compulsory line that it writes on all reinsurance in the country
  • California workers' compensation insurer State Compensation Insurance Fund is turning to the cat bond market to source earthquake reinsurance, sister publication Trading Risk reported yesterday.
  • French state-owned reinsurer CCR is withdrawing from Thailand, Australia and New Zealand in the wake of heavy catastrophe losses this year, The Insurance Insider can reveal
  • Regulatory authority Qatar Financial Centre Authority has won Global Investor magazine's award for the best financial centre in the Middle East.