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  • 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.
  • Bermudian IPC Holdings Ltd appears to have paid the price for a property catastrophe focus with its operating subsidiaries downgraded to A- by Standard & Poor’s (S&P).
  • Xchanging has priced its proposed initial public offering (IPO) at 210 to 240 pence a share, effectively valuing the company at £500mn at the mid-point price.
  • Converium has pointed to its first quarter results this morning as evidence that the increasingly hostile takeover bid from rival SCOR undervalues the firm.
  • Converium has raised the heat in its defence against an increasingly hostile takeover bid by rival SCOR as it filed a lawsuit in the US against the French reinsurer and former investor Patinex alleging violation of securities laws.
  • Amlin Bermuda Ltd has appointed Alun Thomas, a former director of North American Reinsurance in Aon Ltd’s Property division, as an underwriter.
  • Integro Ltd, the insurance broker which recently unveiled ambitious plans to roll-out a global wholesale and facultative division, has appointed a new chief financial officer to replace the retiring Joseph Salerno.
  • Swiss Re has launched its EUR329mn European Clean Energy Fund to invest in environmentally friendly projects.