October 2009/1

Willis CFO and COO Patrick Regan has announced plans to leave the insurance broker to join the world’s fifth largest insurance group, Aviva, as CFO.

American International Group’s (AIG) challenge of retaining its key management may have got tougher today (22 October) after the Obama administration’s pay tsar Kenneth Feinberg imposed brutal cuts on the salaries of its most senior executives.

Amlin-backed dedicated ILS investor Leadenhall Capital Partners has launched two $50mn Irish-based funds.

In the latest chapter of the bid-rigging saga that has haunted Marsh since 2004, the broking giant and American International Group (AIG) have been served with a lawsuit by US commodity producer and distributor Seaboard Corp.

Platinum Underwriters Holdings became the latest (re)insurer to herald a return to active capital management as it opened the Q3 reporting season with record profits for the period.

The convergence market’s uneasy relationship with US liability perils should be rethought as the prospect of a new era of tort expansion will create opportunities for the sector.

Bermudian Max Capital Group has appointed Adam Mullan as CEO of Max at Lloyd’s – the managing agent for Syndicates 1400, 2525 and 2526 – as it looks to build out its Lime Street platform.

Expansive Independent (re)insurance broker Cooper Gay has acquired a majority shareholding in Florida-based reinsurance broker, Reinsurance.com.ar LLC.

The World Bank is launching a catastrophe bond issuance platform to give governments and other public entities access to international capital markets for natural catastrophe insurance.

Maurice ‘Hank’ Greenberg and the firm he parted company with in 2005 American International Group (AIG) are in advanced talks to settle their legal differences, the Wall Street Journal reported last week.

Hardy Underwriting Bermuda Limited has launched a reinsurance joint venture based in Bahrain in equal partnership with Arab Insurance Group (Arig).

Brit Insurance Holdings has embarked on a shake-up of its professional indemnity division which has led to the departure of the unit's two most senior underwriters.