Reinsurance

Alleghany rose the most since December as Reuters reported that the company was approached about the possible sale of its Transatlantic reinsurance unit.

PartnerRe said it would engage in discussions with hostile bidder Exor to seek a better offer than the $6.8 billion proposal that the target company called unacceptable.

Exor upped the ante in the takeover battle for PartnerRe, raising its bid by 5.8% in a final push to beat out rival Axis for control of the reinsurer.

Munich Re took an $800 million loss on derivatives contracts in the first quarter, caught off guard by a rally in stock markets.

Exclusively from National Underwriter and PC360, Lloyd's execs discuss the state of the E&S industry, the emerging risks and markets Lloyd's is targeting, their plans to recruit the next generation and more.

PartnerRe is betting the value of a merger with Axis is worth more in the long run than an extra few dollars a share now. Shareholders may not agree.