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  • Lloyd’s insurer Kiln has acquired a 25 percent stake in South Africa’s International Marine Insurance Managers (International Marine).
  • In contrast to barnstorming Q1 results for US and Bermudian (re)insurers, European carriers enjoy a mixed first quarter with some showing a more subdued uplift from hard market conditions.
  • Royal & Sun Alliance’s (R&SA) proposal to change terms and conditions on a EUR500mn bond to keep it in line with qualification requirements for regulatory capital with a group solvency test will not affect the rating of the debt, said Standard & Poor’s in
  • Ratings agency Moody’s has withdrawn its rating on the American arm of bankrupt Bermudian reinsurer Trenwick.
  • Strong first quarter results at US reinsurer Odyssey Re prompted Moody’s to place its Baa1 insurance financial strength ratings on review for possible upgrade.
  • Broking giant Marsh has announced its first large-scale foray since 1998 with the $1.9bn acquisition of corporate security firm Kroll.
  • The fronting insurer of Spanish football club Atletico Madrid failed in its attempts to overturn a decision in the UK Courts which allowed London market contingency underwriters to void coverage relating to the side’s relegation in 2000.
  • Lloyd’s has set out the cost of setting up and running its electronic risk placing system, Kinnect.
  • Justin Tweedie, the former underwriter of Heritage Syndicate 1245, has joined the fast expanding Primary Group to help develop its US insurance arm.
  • Swiss reinsurer Converium is set to replace its expiring catastrophe bond Trinom next month with Helix, a new $100mn product that will provide broader coverage than the three-year Trinom bond.