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  • This year's North Atlantic hurricane season will provide a "litmus test" for the (re)insurance industry's ability to adapt, according to Fitch Ratings.
  • Reports published in the last week have again warned the insurance industry to expect increased financial losses as weather-related catastrophes worsen as a result of climate change.
  • Bermudian reinsurer Bridge Re, which is wholly owned by investment bank Dresdner Kleinwort, is set to provide a further $182.5mn of securitised capacity to the property catastrophe retrocession market.
  • Bermudian insurer Aspen has completed its search for a new chief financial officer with the appointment of Richard Houghton.
  • Xchanging, the outsourcing firm that runs the London market’s back office, has announced a tie-up with Web Connectivity for its Insurers’ Market Repository (IMR) Gateway service.
  • Takaful insurance is the key to increasing insurance awareness in the Gulf Cooperation Council (GCC), capitalising on the positive economic dynamics of the region, according to a report published by Standard & Poor's (S&P).
  • Undervalued reinsurance stocks should be a target for investors, despite the common belief that shares in the sector trade down as the hurricane season approaches, according to analysts at investment bank Bear Stearns.
  • SCOR officially launched its hostile takeover bid for rival Converium last week (4 April) as it provided further details of the rationale behind the proposed deal which it hopes will create a top 5 global reinsurer and yield an A+ rating by 2010.
  • The failed, London-listed (re)insurer Alea Group Holdings Ltd is set to be bought by private equity-backed FIN Acquisition Ltd (FIN) in a £162mn management buy-out.
  • Royal Indemnity, previously the US arm of Royal & Sun Alliance (R&SA), has settled with MBIA Inc, one of the plaintiffs in the Student Finance Corporation litigation.