July 2008/1

Dutch insurance giant AEGON has closed a £250mn value in-force (VIF) life insurance securitisation with Barclays Capital that unlocks cash tied up in its primary UK subsidiary, Scottish Equitable.

Imagine Group Holdings Ltd's chief underwriting officer Robert Forness is set to leave the (re)insurer to head up Hiscox Bermuda, The Insurance Insider can reveal.

Hannover Re has received its second ratings boost this year as AM Best upgraded its issue credit rating from A to A+ and affirmed its A financial strength ratings with a positive outlook.

Swiss Re shares fell to a 52-week low of SFr56.50 on the announcement of a $9.6bn exposure to the debt of US mortgage financiers Freddie Mac and Fannie Mae today (16 July).

UK motor underwriters were buoyed by the news that average premiums increased in the second quarter after reporting falling rates for the first quarter, according to the AA's Insurance Index.

London market independent (re)insurance broker Cooper Gay & Co Ltd is in talks with Xchanging over a deal to outsource a number of business back office functions, The Insurance Insider can reveal.

American International Group (AIG) was among a number of financial companies in the US to be hit by fresh concerns over financial health, in a tough day of trading for the international equity markets.

Willis Group Holdings has announced the appointment of Gary Schmalzriedt as the chairman of its reinsurance brokerage, Willis Re.

Broking giant Marsh has parted company with Artur Niemczewski, CEO of its UK multinational division, The Insurance Insider can reveal.

American International Group (AIG) has bought out management and staff in Ascot Underwriting Holdings Ltd as its Lloyd’s arm becomes a 100 percent owned subsidiary.

Frontrunner Zurich Financial Services Group (ZFS) has pulled out of the bidding process for the insurance business of the Royal Bank of Scotland (RBS).

Stefan Lippe is to become Swiss Re's deputy CEO and COO, replacing Andreas Beerli, the reinsurance giant has announced.