June 2008/5

A US judge has dismissed several of the claims made by American International Group (AIG) in its attempt to wrest control of a block of its shares from its former CEO and chairman.

The auditors of failed UK insurer Independent Insurance have been fined £500,000 and ordered to pay costs of £1.15mn by the UK accountancy watchdog after a tribunal found the firm's conduct "seriously below the appropriate standard".

Bermuda's financial services sector has seen little fall-out from the US sub-prime meltdown as the island's regulator released its annual report.

Poor returns from UK acquisitions have put a stop on future AXA Group buyouts, according to the French insurance giant’s chairman and CEO, Henri de Castries.

Swiss Re has obtained $150mn protection against North Atlantic hurricane, European windstorm, Californian earthquake, Japanese earthquake and Japanese typhoon through collateralised risk obligation (CRO) Vega Capital Ltd, as predicted by...

London market broker RFIB Group Ltd has recruited Dominic Hagger from Arthur J Gallagher UK Ltd (AJG UK) to join its international non-marine business.

The extent of sub-prime related hits at American International Group (AIG) continues to emerge with the US insurance giant to absorb $5bn in losses in its securities-lending operations.

The rebuilding of the World Trade Center site that was devastated in the 9/11 terrorist attacks will not be completed until the middle of the next decade and may run up to $3bn over budget, according to reports.

Expansive Bermudian Ironshore Inc is close to sealing a deal with Chaucer plc to buy the Lloyd's insurer's Pembroke division, in a move first revealed by The Insurance Insider.

Paul Jardine, COO of Catlin Group, has been returned as chairman of the Lloyd’s Market Association (LMA).

French reinsurer SCOR has unveiled the launch of its latest hub in Singapore to serve the Asia-Pacific region.

QBE Insurance Group has announced the appointment of Chris Fish as CFO for its Americas division.