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  • Martello Insurance PCC Limited, a protected cell company, has been launched in Gibraltar aiming to provide the "benefits and advantages of captive insurance, but at a lower cost".
  • Australian insurer QBE Insurance Group has confirmed a privately placed $550mn offering of hybrid notes to institutional investors.
  • A UK High Court has delivered a landmark decision favouring reinsurers in a dispute concerning "follow the settlement" clauses.
  • Swiss Re’s first quarter result will benefit from a capital gain of £250mn following the £600mn sale of its “Gherkin” office building in London, according to analysts.
  • A consortium including ICAP founder Michael Spencer and hedge fund giant Eton Park Capital Management LLC is set to take a controlling interest in electronic trading platform RI3K, The Insurance Insider can reveal.
  • Keith Rutter, the former Independent Insurance underwriting executive, has left Oxygen Insurance Brokers to return to underwriting.
  • The rising price for distribution channels was demonstrated with AXA’s recent acquisition of UK consolidator Smart & Cook Group Ltd.
  • Bermudian reinsurer Aspen Insurance Holdings Ltd returned to the capital markets with two securitisation deals last week that will provide it with over $1bn in hurricane and earthquake cover.
  • Cat modelling specialist Risk Management Solutions (RMS) has launched a new parametric index which it says will help draw more emerging capital markets players into the catastrophe risk arena.
  • It could prove to be a tough year for brokers but Willis Group Holdings Ltd showed last week that it was still able to grow revenues and profits despite falling rates.