Treaty Reinsurance

French mutual Covea and Bermudian reinsurer PartnerRe announced they had reached a memorandum of understanding by which Covea would purchase Partner for $9bn cash, plus a $50mn cash dividend.

The dispute with leading shareholder China Minsheng threatens the (re)insurer's credit ratings.

Hannover Re takes a key role alongside leader Munich Re in the world’s largest terrorism retrocession placement.

The embattled majority owner of Sirius blocked a planned rights issuance last week.

The (re)insurer's board has appointed Barclays to carry out a review of strategic alternatives.

Scor shares slip on its largest shareholder's takeover agreement.

Enstar, Catalina and Premia are the likeliest legacy acquirers for a c.$400mn deal.

Aspen is the latest to pass the risk of unfavourable reserve development on to reinsurers.

Third Point attributed its recent turnaround to the transition to a more well-rounded “specialty” reinsurer focused on underwriting profit, and away from the float-generating strategy that marked its early days.

The CEO said the company was only prepared to deploy capital if increases were sufficient.

Large losses push the group fourth-quarter result below expectations.

The main operating subsidiary of Maiden Holdings will “redomesticate” from Bermuda by mid-March.