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Marsh and Spitzer collusion claims thrown out
A federal judge has dismissed the claims from two former Marsh & McLennan Companies employees that the broking giant, together with then-New York attorney general Eliot Spitzer, unfairly targeted them to take the blame in an investigation into bid-rigging.
25 June 2012
Liberty attempts to overturn AIG’s $450mn workers comp settlement
Liberty Mutual Insurance and two of its subsidiaries have attempted to overturn a $450mn settlement by American International Group (AIG) that resolved claims it had cheated a workers' compensation programme by underreporting premiums in the industry pool.
25 June 2012
Former Gen Re and AIG execs cut deal with prosecutors
The four former General Re executives and the American International Group (AIG) executive accused of defrauding investors through a phoney reinsurance transaction in 2000 have reached a resolution of the criminal case, according to a court filing.
25 June 2012
G20 boosts global financial watchdog role for FSB
Heads of state at the Los Cabos G20 summit have accepted the Financial Stability Board (FSB)'s proposals for strengthening its capacity, resources and governance and have allowed the Board a more active role as global financial watchdog.
25 June 2012
FSA split to cost £130mn-£175mn
The division of the UK Financial Services Authority (FSA) is costing the FSA, the Bank of England and the UK Treasury between £130mn and £175mn, according to the FSA's latest annual report, released last week.
25 June 2012
Argo creates alternative risk role for Gibson
Bermudian (re)insurer Argo Group has hired former BNP Paribas convergence expert Mark Gibson to the new position of director of alternative risk capital.
25 June 2012
State buyers win out at Trading Risk awards
Two US state-sponsored reinsurance buyers were among the major winners at the fourth annual Trading Risk awards, which took place last week at a black tie ceremony held in London.
25 June 2012
Data Room: Winners and losers
The Insurance Insider Data Room takes a look at the share price movements of US/Bermuda, Lloyd's/London and European (re)insurers and brokers
25 June 2012
Analysts unfazed by Lancashire fac withdrawal
Analysts say it's too early to make a call on what Lancashire's pullback from direct and facultative (D&F) property business means for the London-listed insurer.
25 June 2012
London still awash with excess capital
Despite near-record international catastrophe losses last year, London-listed (re)insurers are still awash with excess capital and ready to seize on any market dislocation or other underwriting opportunities, according to Espirito Santo analyst Joy Ferneyhough.
25 June 2012
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