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Ace sues OneBeacon for poaching surety division
Ace Ltd has sued the US insurance group OneBeacon for allegedly conspiring with eight Ace employees to steal trade secrets from the firm before their "coordinated resignations".
14 September 2012
AIG completes $20.7bn sell down
American International Group (AIG) has completed the offering of 636.9mn shares of $2.50 common stock, enabling the US Treasury to receive $20.7bn in proceeds
14 September 2012
Hannover Re closes Eurus III as pricing falls
Hannover Re has renewed its European wind bond as strong demand for the diversifier caused final pricing on the deal to slip below guidance levels
14 September 2012
XL hires insurance CFO in Axis exec swap
XL Group has appointed former Axis senior executive Chris Dougherty as chief financial officer for its insurance division, replacing Joseph Henry, who moved to Axis a few months ago.
14 September 2012
Stanford executive receives three years for obstruction
A former senior executive at the collapsed Stanford bank has been sentenced to three years in prison for obstructing the US Securities and Exchange Commission (SEC)'s investigation into convicted fraudster Allen Stanford's $7bn Ponzi scheme.
14 September 2012
Bowring Marsh CEO steps down
Nick Bacon is stepping down as CEO of Marsh's London market wholesale division Bowring Marsh
14 September 2012
RMS estimates Isaac at $1bn-$2bn
Catastrophe modelling firm RMS predicts that insured wind and surge losses from Hurricane Isaac's landfall on the US Gulf Coast will be between $1bn and $2bn.
14 September 2012
RBS confirms Direct Line IPO despite Talanx withdrawal
The Royal Bank of Scotland has confirmed the IPO of its Direct Line unit, in a flotation expected to value the UK personal lines insurer at around £3bn
14 September 2012
UK retailer Giles in London market broker start-up
Major UK retail broker the Giles Group has announced the launch of a new London-based wholesale and reinsurance broker
13 September 2012
Amlin head of P&C walks
Duncan Dale, the head of Amlin London's property and casualty unit, has resigned from the (re)insurer, The Insurance Insider can reveal
13 September 2012
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