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  • Marsh & McLennan Companies Inc (MMC) announced today (9 September) that president and CEO Michael Cherkasky will hand over the reins of broking subsidiary Marsh Inc to Brian M Storms with immediate effect.
  • There was increased speculation over the weekend that the UK’s second largest domestic non-life insurer, Royal & Sun Alliance (R&SA), will launch a rights issue later this week.
  • Some of AIG’s “independent” directors have had unusual financial relationships with AIG or its affiliates, and may not be as independent as they appear to be. AIG’s failure to disclose these relationships to its shareholders raises questions about the com
  • In his much-anticipated annual letter to shareholders, the world’s second richest man Warren Buffett railed against scandal-struck mutual fund companies and corporate greed, as his investment company Berkshire Hathaway unveiled profits that nearly doubled
  • As Europe braces itself for a potential influenza pandemic, broker Aon warned today (17 October) that businesses remain unprepared for “the greatest threat facing their business today” and called on companies to “take action to protect their performance”.
  • Sompo Japan Insurance Inc was awarded $1.12bn in damages against Fortress Re, the North Carolina based aviation pool manager, on 18th December by a US arbitration panel.
  • Lloyd’s have appointed veteran reinsurance underwriter Bryan Kellett to represent its interests in the forthcoming Central Fund reinsurance arbitration dispute against Swiss Re.
  • Swiss Re, AIG and others win battle against summary judgment A period of frenetic litigation came to a head last month in a court case brought by oil giant BP against Swiss Re, AIG, AXA, ACE, Aegis and other international insurers for their refusal to
  • The former MMC chief executive Jeffrey Greenberg has established a private equity investment company Aquiline Investment Group that will back insurance and financial services companies, The Insurance Insider can reveal.
  • Lloyd’s plans to address its historically low exposure to the European P&C insurance markets, revealed the Society’s chairman Lord Levene last week.