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  • Converium has reiterated its rejection of advances from SCOR after the French reinsurer stepped up its takeover approach by pre-announcing a public tender offer for the remaining shares in its Swiss rival which it says it will make within six weeks.
  • Hannover Re today (26 February) confirmed a deal that securitises reinsurance recoverables worth EUR1bn – equivalent to around a quarter of its total balance.
  • The World Bank is bringing together donor countries today to raise between $30mn and $50mn to complete funding for a Caribbean Catastrophe Risk Insurance Facility (CCRIF).
  • SCOR has stepped up its takeover approach for rival Converium by formally pre-announcing a public tender offer for the remaining shares in the company.
  • Lloyd's looks set to approve a new syndicate later this week staffed by senior underwriters who left the Bermudian (re)insurer Aspen Insurance Holdings Ltd last year.
  • QBE Insurance Group pointed to its recent foray of international acquisitions as deliverers of future growth, while joining the ranks of underwriters unveiling record 2006 results.
  • The Delaware insurance commissioner has given Royal & Sun Alliance (R&SA) the green light to spin-off its run-off US subsidiary, subject to conditions.
  • Stephen Way has formally completed his departure from HCC Insurance Holdings, the company he founded in 1974, at the same time as the firm announced a 79 percent leap in profits last year.
  • Risk Management Solutions (RMS) has released the “RMS Infectious Disease Model”, the first commercially available probabilistic model for assessing the risk of influenza pandemics across multiple countries.
  • Bermudian reinsurer Aspen Insurance Holdings has strengthened it aviation and specialty reinsurance with the creation of the post of head of division.