July 2006/3

Over 1,000 Lloyd's Names have launched a £1bn class-action style legal case against the UK government, led by seasoned campaigner Christopher Stockwell.

Former American International group (AIG) chairman, Maurice "Hank" Greenberg has called the restatement of four years of the firm's earnings was "flawed".

Another HIH Insurance executive is set to plead guilty to fraud charges relating to the Australian insurer's collapse five years ago.

Ratings agency Fitch Ratings has followed Standard & Poor's (S&P) in downgrading Swiss Re following it acquisition of GE Insurance Solutions (GEIS).

Insurance broker Willis Group Holdings Ltd made an agreement to acquire Norwegian broker Link Forsikringsmegling AS (Link) on Friday (7 July).

New York-based Tower Group Inc revealed on 6 July that it will write down $5.4mn on its balance sheet after commuting its outstanding liabilities with the near-defunct Bermudian reinsurer, PXRE Group.

Colemont Insurance Brokers Ltd - the newly formed London arm of US wholesaler Colemont Corporation - and Integro Group have both appointed new heads of their aviation operations.

Illinois' Lisa Madigan became the third state attorney-general to increase the pressure on industry giant Liberty Mutual Inc when it filed a lawsuit against the firm alleging unlawful behaviour in relation to undisclosed contingent commissions...

Jardine Lloyd Thompson Group plc - the broking group in talks to take-over UK rival Heath Lambert Group - is to appoint a new finance director.

A new (re)insurer, Carbon Re, has been set up in Switzerland to provide covers to greenhouse gas emissions-related projects.

German reinsurer R+V has been awarded EUR3,528,357 in damages from the former Lloyd's based managing agency Risk. The award came in a judgement handed down by Mr Justice Tomlinson this morning (10 July) in London's Royal Courts of Justice.

Think of SCOR as a P&C reinsurer? Think again. Following SCOR's announcement last week that it has agreed to buy the German life reinsurer Revios in a $775mn deal, SCOR's business mix will be 60 percent life reinsurance and only 40 percent...