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  • Strong results prove SCOR bid undervalued, says Swiss rival
  • Standard & Poor’s (S&P) has upgraded Lloyd’s financial strength rating to A+ following the Equitas deal with Berkshire Hathaway which sees the three-hundred-year-old market put its legacy fears behind it.
  • Bermuda-based life reinsurance specialist Scottish Re Group hopes to complete its $600mn rescue deal with two private equity firms within the next four weeks.
  • Glencairn Ltd, the Lloyd’s broker taken over by US firm Hilb Rogal & Hobbs Company Ltd (HRH) last December, has expanded by taking on the majority of Park London’s insurance and reinsurance business.
  • QBE Limit has expanded its aviation team hiring Tony Ambrose as an underwriter for Syndicate 5555's Products and Airports team.
  • Acquisitions of rival (re)insurers are potentially less risky than organic growth in a softening market, according to Nick Johnson, senior insurance analyst at Numis Securities.
  • Japan’s improving economy has sparked an upgrade in the financial strength and debt ratings of Tokio Marine & Nichido Fire Insurance Co Ltd from AA- to AA.
  • AXA is set to securitise a further portion of its motor portfolio some 18 months after its landmark FCC Sparc transaction.
  • Catlin Group underwriter Matthew Yeldham has become the latest ex-Wellington Underwriting employee to leave the group after it was confirmed he would be joining Bermudian firm Aspen Insurance Holdings Limited as its head of International Insurance.
  • David Shipley, one of Lloyd’s leading underwriters, has stepped down from the syndicate he founded in 2000.