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  • Global (re)insurance giant Tokio Marine is restructuring its international reinsurance and large commercial property operations from 1 January 2011, as it gears up for growth.
  • QBE has continued its recent flurry of takeovers by agreeing to buy specialist European reinsurer Secura for EUR267mn (£220mn) from Belgium-based bancassurance group KBC.
  • Insurance claims totalling $1.166bn were filed in June after global catastrophes that included flooding and severe weather events in America, Europe and Asia, reinsurance broker Aon Benfield reports.
  • Founder of Max Re Keith Hynes has been appointed to the board of Bermudian specialty insurer Ironshore, where he will chair the audit committee.
  • Glacier Re is likely to fall to an operating loss in 2010 due to its Chile exposures, according to AM Best.
  • The regional disaster insurance fund for Caribbean governments has increased its coverage limits for the coming year, albeit at the expense of hurricane cover ahead of what is forecast to be an above-average hurricane season.
  • Brit Insurance shares initially climbed 5 percent in trading this morning (2 July) after the company announced it had rejected a revised £10.50 indicative bid from Apollo Global Management.
  • Class of 2005 Bermudian reinsurer Ariel Holdings is to sell its US subsidiary, Valiant Insurance Group, to US specialty insurer First Mercury, less than three years after it acquired the unit from Zurich North America.
  • Brit Insurance has rejected US private equity firm Apollo's 1,050p approach, but said it would be willing to consider a higher offer.
  • Insured losses from Hurricane Alex are not expected to exceed $200mn, according to modelling firm AIR Worldwide.