April 2009/1

Lloyd's insurers are set for a boost as the UK Treasury confirmed it will bring the tax treatment for their equalisation reserves in line with general insurance companies.

Troubled American International Group (AIG) has finalised its latest round of government funding – a $29.84bn purchase agreement with the US Treasury which it first announced in March.

As the US property and casualty (P&C) industry converges on Orlando, Florida, for the annual RIMS conference, one of the key themes is the impact the economic crisis is having on the market.

American International Group (AIG) has agreed a deal to sell its 21st Century US personal auto business to Zurich Financial Services for $1.9bn, representing the biggest insurance disposal in its asset sale programme so far.

American International Group (AIG) is close to selling its US motor insurance business to Zurich Financial Services (Zurich) in a deal worth between $1.5bn and $2bn, according to reports.

Australian insurer QBE ended the search for a new CEO of its Americas division with the internal appointment of John Rumpler, announced at its shareholders’ AGM last week (8 April).

Shares in Lancashire Holdings traded down after the Class of 2005 (re)insurer increased its estimate of expected losses from Hurricane Ike by $38.4mn, swelling the ranks of those underwriters who have upped their estimates in recent months.

IPC Holdings’ board has rebuffed fellow Bermudian Validus Holdings’ approach as it reaffirmed its recommendation to shareholders for a merger with Max Capital.

Aon UK is planning to lower its standard employer pension contribution to 6 percent of salary across the board in an overhaul it says will enable it to reduce fixed costs and protect its business under challenging economic conditions.

Buffy, the long-suffering Lloyd's Name, rails against Lime Street's capital rules

Swiss Re's efforts to rehabilitate itself with investors will include cutting its workforce by 10 percent over the next 12 months and streamlining its global operations under new chief operating officer Agostino Galvagni.

Welcome to The Insurance Insider's regular section, Courtwatch, dedicated to providing analysis on all UK litigation involving (re)insurers with a particular mandate to focus on the impact of the credit crunch…