Insurance

Omega Insurance, a Lloyds of London insurer in which Invesco Perpetual's Neil Woodford is the largest shareholder, has received a takeover approach from rival Canopus.

RSA's bid for part of Aviva's general insurance business could still happen but only if the offer is raised by around 10%, according to shareholder Ignis.

Prudential is eying the use of Lloyds-style contingent capital notes, known as CoCos, to help bolster its cash reserves and revive its £24bn takeover of Asian insurer AIA.

Prudential has delayed the issue of details of its $21 bn cash call, because it has failed to reach agreement with the FSA on its capital position.

Prudential's largest shareholder, the Capital Group, is eying a potential break-up of the insurer as a radical alternative to its $35.5bn AIA acquisition.

Royal London's Andrea Williams has begun reducing her fund's exposure to banks in favour of insurance companies.

Swiss Re has sold part of its US life insurance business to Warren Buffett's Berkshire Hathaway for 1.3bn Swiss francs (£778m).

Aviva has acquired US equity manager River Road Asset Management as it looks to grow its institutional business and expand in the US market.

Standard Life has named group finance director David Nish as successor to group chief executive Sir Sandy Crombie from 1 January 2010.