The stories making headlines this week

Deal

Liberty Mutual has taken a 51% stake in Quinn, which will receive a €200m (£180m) cash injection. The other 49% is now owned by Anglo Irish Bank and Quinn Insurance Holdings.

Loss

Aspen Insurance Holdings posted a net loss of $151.7m (£92m) in 2011’s first quarter, after an “exceptionally high level of natural catastrophes” pushed the (re)insurer’s combined operating ratio up 38 points to 148.5%.

Sentence

Three Luton men were found guilty of a £5.3m insurance and mortgage fraud and sentenced to 11 years in jail after a five-year operation by Bedfordshire police.

Hire

Hastings Direct has named Mark Adams as its new chief financial officer. He was chief of accident manager Helphire, which cut 400 jobs last year.