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  • French insurer AXA is reportedly in exclusive talks to buy Winterthur, the insurance unit of financial services giant Credit Suisse Group in a deal that could be worth up to SFr10bn, or $8bn.
  • The proposed WFUM pool scheme of arrangement, involving 16 different insurance companies, was granted leave to convene creditors' meetings by the UK High Court on 9 June.
  • Key parties in the London market, including the London Market Association (LMA), and the G6 have welcomed Lloyd's CEO Richard Ward's contract documentation initiative, which was announced on 22 May.
  • Although the London market was recently overtaken by Bermuda as the largest brokered reinsurance market in the world, analysts from Morgan Stanley believe the market remains attractive as an investment proposition, with lower capital requirements...
  • UK general insurer Royal & Sun Alliance (R&SA) announced first quarter pre-tax profits of £122mn, unchanged from the corresponding period of 2005.
  • Former Brit space underwriter Simon Clapham has been signed up by Sciemus Limited as director of insurance, to work with the LibSat satellite consortium backed by Liberty Syndicate Management and a number of other Lloyd’s insurers.
  • Underwriters on Limit's Syndicate 386 have become some of QBE's highest paid employees following their multi-million pound bonus scheme.
  • German giant increases use of securitisations as retro costs rise German reinsurer Hannover Re revealed it has halved its coverage from the traditional retro market in its programme renewal as it released strong first quarter operating results...
  • Bermudian giant XL Capital announced the appointment of industry veteran Herbert Haag to its board of directors on Friday (9 June).
  • As first revealed in May's The Insurance Insider Personal Accident (PA) underwriter Paul Newson has joined Lloyd's managing agency Marketform.