2015: THE YEAR LONG-AWAITED M&A RUMOURS BECOME REALITY? 

Welcome to the first edition of Informa's Insurance News 24 of 2015, which arrives following a reinsurance renewal season described as offering little respite for reinsurers by broker Willis Re. As expected, the broker has reported the January 1 renewals saw buyers once again hold sway with further downward pressure on ratings and widening of terms and conditions. The report states that long-rumoured M&A activity is now reality, with some companies recognising any further delay is only likely to see further deterioration in their valuations. On that note, there is no further news to report on XL’s planned acquisition of Catlin as the year begins, with sources indicating the second week of 2015 is the likeliest potential date for an announcement, although neither party is commenting on speculation. This early January agenda will likely include some form of resolution to the Terrorism Risk Insurance Act situation, with Congress having failed to pass a renewal of the act prior to its winter recess.