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  • Private equity-backed Canopius is in formal takeover talks with London-listed Lloyd's carrier Omega Insurance Holdings, The Insurance Insider can reveal
  • American International Group (AIG) has reached agreement in principle on a $450mn settlement with other insurance companies over claims that it deliberately misstated the amount of workers' compensation premium that it wrote, according to reports.
  • Canopius is the latest Lloyd's carrier to set up a Zurich reinsurance platform following recent moves by peers Amlin, Catlin and Novae.
  • Lloyd's (re)insurer Omega Insurance Holdings has warned that it now expects its losses from September's Christchurch earthquake to swell by 170 percent to $18.9mn.
  • UK regulator the Financial Services Authority (FSA) has banned and fined Surety Guarantee Consultants Ltd director Barry Williams for his part in a scheme that defrauded Markel International Insurance and QBE (Europe) of more than £2mn in 2005.
  • Rates for US property and casualty insurance fell by 5 percent in December, according to the latest market barometer from Marketscout.
  • London-based stockbroker Numis Securities has downgraded its full-year profit forecast for listed Lloyd's (re)insurer Hardy Underwriting to reflect claims from the flooding in Australia.
  • Bermudian (re)insurer Ironshore has announced the formation of a new subsidiary in Dublin, as revealed exclusively last month by our sister publication Inside Fac.
  • Swiss Re America head to retire; Fairfield start-up hires Liberty exec; Brit recruits new PI class underwriter; CEO Rowe to retire from CTC by end of 2011; Everest completes crop acquisition
  • Hannover Re has announced that it will sell all operational companies of its US insurer in run-off, Clarendon Insurance Group, to the Bermuda-based legacy specialist Enstar Group.