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  • Greenlight Capital Re has announced that Bart Hedges has been appointed CEO, replacing Len Goldberg, who retired as planned yesterday (15 August).
  • Caribbean insurer Sagicor turned a second-quarter profit but this was not enough to pull its half-year result back into profit, after it shouldered heavy first quarter losses on disaster claims
  • A recent string of new claims activity and increases in asbestos reserves is a reminder of the significant credit risk that these exposures still pose to the (re)insurance industry, ratings agency Moody's said in its weekly credit outlook yesterday (15 August)
  • Merger and acquisition activity in the global property and casualty insurance sector is likely to remain below pre-financial crisis levels, according to a report from Guy Carpenter Securities
  • Insurance Australia Group (IAG) has agreed to invest around A$100mn in exchange for a 20 percent stake in Chinese general insurer Bohai Property Insurance
  • Randall & Quilter (R&Q) is closing in on a capital partnership with a US hedge fund in order to boost its acquisition firepower.
  • The Financial Services Authority (FSA) has been taking an increasingly hard-line approach to the requirements on insurers to advertise and notify policyholders on Part VII applications of insurance business, according to law firm Hogan Lovells.
  • AIG's muscular approach to litigation continued with a threat to sue Goldman Sachs over mortgage-related offerings, the investment bank said in its 9 August quarterly filing with the Securities and Exchange Commission.
  • Aon eSolutions is suing rival risk management software producer Riskonnect after three of its employees defected, allegedly taking confidential information with them.
  • American International Group (AIG) has filed a lawsuit suing Bank of America Corporation (BoA) for $10.5bn over residential mortgage-backed securities (RMBS) the lender and its subsidiaries packaged prior to the 2008 financial crisis.