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  • Canadian combine Fairfax Financial Holdings (FFH) now owns 97 percent of Odyssey Re following the expiration of its cash tender offer for the remaining shares in its affiliated reinsurer.
  • Amlin-backed dedicated ILS investor Leadenhall Capital Partners has launched two $50mn Irish-based funds.
  • A global coalition of insurers has called on developed countries to agree to a 40 percent cut in greenhouse gas emissions by 2020 at the UN climate change negotiations in Copenhagen in December.
  • American International Group (AIG), which received $182.5bn from the federal government's $700bn Troubled Asset Relief Program (TARP), has missed three dividend payments to the Treasury.
  • Swiss Re said it is "very well positioned" to enter January 2010 renewal discussions, but will focus on quality instead of quantity as it faces up to the pricing problems in key European markets.
  • In a reversal of normal industry practice, the European Court of Justice (ECJ) ruled last week (22 October) that VAT is now liable on the cross-border sale of portfolios of reinsurance business
  • Lloyd’s (re)insurer Brit has posted an upbeat Q3 management outlook as its reinsurance and UK markets business units achieved strong premium growth to offset declines at its global markets division.
  • After a lengthy impasse, Russian-backed private equity firm Pamplona Capital Management has finally upped its shareholding in Lloyd’s insurer Chaucer to 16.27 percent.
  • Willis CFO and COO Patrick Regan has announced plans to leave the insurance broker to join the world’s fifth largest insurance group, Aviva, as CFO.
  • Amlin-backed dedicated ILS investor Leadenhall Capital Partners has launched two $50mn Irish-based funds.