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  • American International Group (AIG)'s president and CEO Peter Hancock has countered suggestions that the insurer should be split into three separate businesses and detailed cost-cutting measures that will cull 23 percent of the company's top 1,400 senior managers.
  • After several years of increasing its private risk transfer, Florida Citizens will enter a holding pattern for its 2016 reinsurance buying as it prepares for a significant restructure in 2017, The Insurance Insider can reveal.
  • Life is full of great little ironies. These are the small wrinkles that help give hope to us mere mortals, a gentle tip of the scales back in the underdog's favour.
  • A relatively small pool of aviation insurers are facing a loss of $200mn-$300mn from a product liability policy written for Airbus, The Insurance Insider can reveal.
  • 2015 has been the year of scale. Senior industry figures have repeatedly intoned the mantra that size matters. Relevance requires the capacity, analytic sophistication and impregnable rating that comes from size, they have said.
  • JLT is expecting full-year organic revenue growth at its risk and insurance businesses to be "in line with historical levels", with its JLT Specialty and JLT Re units set to report trading margins above those of last year
  • One-off Montpelier acquisition expenses contributed to Endurance reporting operating income of $47.6mn for the third quarter, down from $59.2mn for the same period last year.
  • Allstate reported higher operating profits for the third quarter that beat Wall Street projections as it also continued its aggressive capital management strategy in the period.
  • Bermuda-domiciled Aspen Insurance Holdings has reported operating income of $67.2mn for the third quarter, down from $81.7mn for the same period last year.
  • AIG is initially targeting senior management as it embarks on a significant headcount reduction as part of restructuring initiatives that will result in pre-tax charges of $500mn over the next two years.