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  • The rating of Sirius International - the Swedish insurer recently acquired from ABB by the White Mountains Insurance Group – is under review by AM Best.
  • One of the most public airings of dirty washing in recent Lloyd's history ended with Names supporting plans to form Wellington Re. But it’s the insurer's nine month struggle to raise funds which shows the problems of the Society's convoluted and divided c
  • White Mountains reported stable adjusted comprehensive income of $117mn for the first quarter as its insurance unit OneBeacon lifted net income by 30 percent to $88mn
  • Energy mutual Oil Casualty Insurance Ltd's (OCIL) Avalon Re excess liability cat bond defaulted at its final maturity date last week (7 June), leaving the lowest tranche investors with a $13mn loss.
  • Standard & Poor's (S&P) affirmed its affirmed its “BBB” counterparty credit and financial strength ratings on Fairfax Holdings operating insurance companies and its “BB” counterparty credit ratings on Fairfax and Crum & Forster this week.
  • Run-off specialist Catalina Holdings announced that it signed a definitive agreement on 7 January to acquire Glacier Re, the Swiss based reinsurer in run-off.
  • 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.
  • Munich Re will suspend its share buyback scheme following its AGM in April after racking up estimated first quarter losses of over EUR2.5bn
  • Bermudian (re)insurer XL Capital dismissed rumours of significant sub-prime related losses in its financial and professional lines portfolio last month, stating that the crisis provided "an attractive opportunity" for the class.
  • US insurance giant, American International Group (AIG), is a partner in a consortium, led by Richard Branson’s Virgin Money, to buy stricken UK mortgage bank, Northern Rock.