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  • Last week’s shock decision by Standard & Poor’s (S&P) to downgrade IPCRe from A to A- has been questioned in some quarters and sent out a strong message to peers with a focus on volatile catastrophe reinsurance business.
  • 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.
  • Integro Ltd, the US insurance broker formed in response to the regulatory scrutiny into the US broking industry, has announced that Charles Waddington will join its facultative (Fac) team from Guy Carpenter & Co.
  • The changing of the guard among London’s mid-tier brokers continued last week after RFIB Group Ltd confirmed it had undertaken a management buy-out financed with private equity support.
  • Fast growing insurer Canopius Ltd is looking at options to expand its platform outside Lloyd’s, Insider Week can reveal.
  • Energy industry mutual Oil Insurance Ltd continued to see its membership decline as it confirmed last week that 13 more companies are set to leave.
  • Cat modelling firm Risk Management Solutions (RMS) has said the recent increases in Florida’s property values has exposed some cat bonds to a higher risk.
  • Patrick Snowball, Aviva UK’s group executive director, has resigned suddenly from the company and is set to join the insurance consolidator Towergate Partnership as deputy chairman.
  • 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.
  • 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.