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  • Mark Cloutier, the head of run-off at the defunct reinsurer Alea Group Holdings, will replace Marc Ricciardelli as the company chief executive from 1 September.
  • Ironshore has continued to tap American International Group (AIG) for senior executives while building what is increasingly looking like Lexington MKII.
  • PICC raises $693mn in IPO PICC Property and Casualty Co Ltd, China’s largest property insurer, successfully raised $693mn in a Hong Kong IPO last week.
  • Ratings agencies Moody’s and Standard & Poor’s (S&P) have delivered contrasting responses to Bermudian reinsurer Montpelier Re’s successful $600mn fundraising exercise to fill the hole left by Hurricane Katrina and subsequent flood losses.
  • London-headquartered insurance services firm Randall & Quilter (R&Q) is planning to issue a new share class to investors rather than pay a final dividend for 2011.
  • Lloyd's (re)insurer Novae has announced a bond exchange offer to holders of its subordinated £100mn callable fixed to floating rate notes, which could add around £9mn to its bottom line
  • Lloyd’s run-off reinsurer sees an end to its largest direct liability US engineering firm Halliburton has announced a $575mn (£317mn) settlement of its asbestos exposures with Equitas, the reinsurer established by Lloyd's in 1996 as a run-off vehicle f
  • White Mountains Insurance Group has become the fourth (re)insurer to announce the formation of a Bermudian sidecar vehicle following last year’s US storm losses. Helicon will sit alongside the Bermudian reinsurer Olympus Re in writing up to...
  • The European Parliament (22 April) approved the Solvency II framework directive without the contentious group support provision – a development which European insurance and reinsurance federation the CEA described as a "missed opportunity".
  • Joseph Brown has been re-appointed as chairman and CEO at beleagured monoline bond insurer MBIA Corp.