S&P Global Market Intelligence offers our top picks of insurance news stories and more published throughout the week.
* U.K.-based private equity firm CVC Capital Partners Ltd. is in exclusive talks to acquire Evolem SA's 65.13% equity stake in French insurance broker April SA. CVC is offering €22 per April share for the stake.
* Italy's Generali sold its entire stake in unit Generali Belgium SA to Bermuda-based Athora Holding Ltd. Separately, Generali completed a transaction that increases its stakes in India-based joint ventures Future Generali India Life Insurance Co. Ltd. and Future Generali India Insurance Co. Ltd. to 49% from 25.5%.
* American International Group Inc. unit AIG Life Ltd. completed the acquisition of U.K.-based group life risk protection provider Ellipse from Munich Re Co.
* China Reinsurance (Group) Corp. finalized the acquisition of Hanover Insurance International Holdings Ltd. from Hanover Insurance Group Inc.
* Arch Capital Group Ltd. unit Arch Insurance Europe completed the acquisition of the U.K. commercial lines business owned by insurance broker The Ardonagh Group Ltd. and part of its Geo Underwriting operating segment.
In other news
* A hacker group called The Dark Overlord is demanding bitcoin payments to prevent the release of litigation documents relating to the destruction of the World Trade Center in the Sept. 11, 2001, terrorist attacks. The group claims to have hacked Hiscox Ltd. unit Hiscox Syndicates Ltd. and Lloyd's of London, which the companies denied.
* Zurich-based catastrophe insurance data provider Perils AG put its final insured property market loss estimate for extratropical Cyclone Burglind at €756 million, up from a previous loss estimate of €724 million in July 2018.
* Chubb Ltd.'s Chubb European Group PLC completed its redomicilation to France from the U.K. ahead of Britain's planned departure from the European Union.
* AmTrust Financial Services Inc. has entered into a new quota share agreement with Swiss Re AG on its U.S. small commercial business for 2019, which totals about $2.9 billion in projected written premiums. The Swiss reinsurer is projected to assume about $1.05 billion on an in-force, new and renewal basis.
Featured during the week on S&P Global Market Intelligence
European insurers 'disappointed' as work continues to iron out Solvency II kinks: Insurers and regulators will have to wait for the 2020 review to see the changes they want to Europe's three-year-old insurance capital regime.
Alternative reinsurance capital takes hit at Jan. 1 renewals: Growth in alternative capital abated in 2018 for the first time since the global financial crisis, JLT Re found, as investors reacted to "disappointing" returns and losses.
Hopes of reinsurance price rises dashed again at Jan. 1 renewals: Despite another year of high natural disaster losses, reinsurance prices were "broadly stable" at the key annual renewal date, and property-catastrophe rates were down 1.2%, according to reinsurance broker JLT Re.