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  • If a market-changing event hit the reinsurance sector this year, forced M&A activity and sidecar issuance would be the likely outcome rather than the formation of a new 'class of 2008', according to leading industry figures.
  • Cedants are increasingly seeking proportional reinsurance cover, with further demand expected, according to Torsten Jeworrek, head of reinsurance at Munich Re.
  • Lloyd's (re)insurer Hardy Underwriting Bermuda Ltd has begun underwriting a book of mutual business worth around £10mn from Japanese investment bank Fintech Global Inc.
  • Nick Foden-Pattinson, former director of reinsurance broker RK Carvill-subsidiary Carvill London Ltd, has joined RFIB Group Ltd.
  • Lloyd's scrutinises aviation sector; McIntyre quits RSA; Atlas launched by ex GC team; Markel Intl appoints new head; QBE picks up £15mn pier tab; Former Guy Carp CEO takes Heritage role; Carvill loses senior executive; RFIB loses major US MGA account;
  • Key developments * Bell Swiss Re move criticised * EC fast-tracks ratings agency consultation * FM Global Katrina ruling overturned
  • Fairfax Financial Holdings became the latest international (re)insurance group to take a controlling stake in a Lloyd's managing agency after buying out a major shareholder in its long-term partner Advent Capital Holdings plc.
  • Catastrophe futures trading platforms have reported some volatility in the first live season of trading, with more than $145mn limit equivalent of exchange traded contracts, and "multiples" of that number traded over-the-counter, according to...
  • Despite dire warnings from the Mayor of New Orleans and speculation that it could be on a par with 2005's hurricane Katrina, initial fears over hurricane Gustav ultimately proved to be unfounded.
  • Last month's air disaster involving a Spanair McDonnell Douglas MD-82 that crashed at Madrid airport, claiming 154 lives, has - at least temporarily - halted the decline in aviation rates at recent renewals.