August 2008/1

Five former General Re and American International Group (AIG) executives found guilty for their part in a sham reinsurance transaction could face lengthy sentences, according to reports.

Senior producer Bill Farnan has resigned as executive vice president of Aon's US energy subsidiary to join Alesco Risk Management Solutions in a move that is likely to make the sector sit up and take notice of...

Alabama insurance commissioner Walter Bell is to join Swiss Re as chairman of its American division Swiss Re America Holding Corporation.

The head of Marsh's global industry practices, James Enelow, is to part company with the broker, The Insurance Insider can reveal.

Lloyd's insurer Hiscox Ltd has posted a rise in pre-tax profits with reserve releases, a solid investment performance and strong underwriting returns defying the gloom of the soft market and credit crunch.

RSA Insurance Group plc shares have closed the week up at 145p on the London Stock Exchange following fresh speculation over a possible imminent bid.

Benfield Group Ltd received a boost yesterday (13 August) after Merrill Lynch upgraded the stock to "buy" following its solid first-half year results.

Ratings agency Standard & Poor's (S&P) revised its outlook for the US commercial lines and property & casualty sector to negative yesterday on the back of continued price softening and declining investment returns.

Zurich Financial Services has announced net profits of $2.7bn and a combined ratio of 96.2 percent for the first half of the year, but only after making higher than expected reserve releases of $609mn.

Willis Group Holdings has announced two senior appointments as part of an overhaul of its reinsurance arm, Willis Re.

Royal Bank of Scotland's up-for-sale insurance division said operating profits leapt from £258mn to £403mn at the half-year stage although revenues were down slightly on business distributed by brokers and partners.

Catlin Group Ltd's pre-tax profits fell by $40mn in the first half of 2008 in what one analyst has called a "mixed bag" of results for the Bermudian-headquartered (re)insurer.