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  • The board of embattled Omega Insurance Holdings has extended an olive branch to its rebel institutional shareholders to head off a special general meeting (SGM), The Insurance Insider can reveal.
  • Bermudian (re)insurance groups Aspen and Ariel have broken off merger talks, The Insurance Insider can reveal.
  • Munich Re expects the volume of new cat bond issuance in 2010 to be in the region of $5bn while the required spread is expected to fall by some 50 basis points up to the middle of the year.
  • Bermudian Harbor Point has renewed its affiliated collateralised retro facility New Point III Ltd for 2010 with capacity offering aggregate limits totalling up to $100mn.
  • Former Aon COO moves to Liberty Syndicates; Torus promotes Fillingham to UK COO; Lockton appoints trio of US execs; Brit appoints new non-executive; Management changes at XL Latin America
  • Moody's gives XL a boost; S&P assigns ‘A' rating to Q-Re; NFIP flood scheme extended again; Canopius targets infrastructure projects
  • Investors seeking to overturn the dismissal of a securities fraud class action against executives at failed Bermudian reinsurer PXRE Group have had their appeal rejected.
  • Guardian Holdings Ltd (GHL) has disposed of its loss-making Gibraltar-based insurance carrier Zenith Insurance to MarkerStudy Holdings, in exchange for a possible share of any profits the business makes in the next four years.
  • Imperial Sugar settled its property insurance claim relating to the fatal explosion at its plant near Savannah, Georgia for a total of $345mn.
  • Hot on the heels of securing HSBC Insurance Brokers Ltd (HIBL) for £135mn, broker Marsh acquired US independent insurance agency The NIA Group late last year.