August 2009/1

American International Group (AIG) has turned to another former head of a US insurance giant to chart the troubled waters after last September's government bailout, with the appointment of Robert Benmosche as its new CEO.

The exodus of staff from AIG UK has stabilised, according to the company's CEO Lex Baugh, as it prepares for a fresh start as part of Chartis.

The decision to allow AJ Gallagher to again charge contingent commissions on US retail business showed how polarised the debate over broker remuneration/transparency is, despite the efforts of the New York attorney general in 2004-05.

The big three global brokers saw their stocks trade up last week after the Illinois authorities decided to allow AJ Gallagher to again negotiate contingent commissions with insurers.

Second quarter results have once again demonstrated that the choice of accounting methodology can have a significant impact on a (re)insurer's bottom line.

As commentators digest Q2 figures from the predominantly US and Bermudian (re)insurers reporting last week, attention turns to the Continental European giants, with Swiss Re, Munich Re and Hannover Re preparing to report in the coming days.

Lancashire Holdings expressed surprise at the markedly reduced demand for Gulf of Mexico (GOM) energy wind cover it experienced in the second quarter...

The twin pressures of a lingering soft market and recession have pinned back organic growth at global broking giants Aon and Willis.

Improved conditions in the financial markets during Q2 helped Validus Holdings regain lost value in its investment portfolio, as strong unrealised gains helped net income climb 81.2 percent...

Lloyd's (re)insurer Advent reported increased pre-tax profits of £5.7mn for the first half of the year, compared to £1.6mn in the same period of 2008.

As RSA prepares to unveil half-year figures on Thursday (6 August), following strong 2008 results, one analyst has suggested earnings at the UK insurer are set to face "a growing list of headwinds".

Brit Insurance Holdings said it was enjoying organic growth in its three main trading divisions, while again reassuring investors on the development of its sub-prime/financial liability exposures.