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  • French giant AXA announced on 14 June that it has entered into a definitive agreement with Credit Suisse Group to buy the Zurich-based company's insurance operation Winterthur for SFr12.3bn, or EUR7.9bn in cash.
  • FP Marine Risks Limited has become the first Asian-based insurance broker to achieve full accreditation at Lloyd's.
  • AM Best has suffered the departure of another senior executive from its international operations, Insider Week can reveal.
  • Swiss Re - now officially the world's largest reinsurer following the completion of its GE acquisition earlier this month - is replacing its retiring US head Jacques Dubois with the former Federal Reserve vice chairman Roger Ferguson.
  • Brit Insurance Holdings PLC announced today (19 June) the appointment of Graham Taylor to its business development unit, which is headed by Richard Webster, business development director.
  • Bermudian giant XL Capital announced the restructure of its management team on 15 June with Henry Keeling taking over as chief operating officer.
  • The National Association of Insurance Commissioners (NAIC) voted last week to take the first steps towards scrapping the "full collateral" requirements imposed on non-US-based reinsurers.
  • UK general insurer Royal & Sun Alliance has unveiled plans to cut over 1500 jobs in an efficiency drive that will save the group £130mn in annual costs.
  • Rating agency Standard & Poor's (S&P) confirmed on 12 June that Swiss Re's acquisition of GE Insurance Solutions (GEIS) has cost the reinsurer its AA rating, which has been downgraded a notch to AA-.
  • Insurance service provider Whittington signed a conditional agreement on 15 June to sell its newly formed Lloyd's Managing Agency and specialist Asian syndicate, Alba, to Insurance Australia Group (IAG).