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  • Maurice "Hank" Greenberg has responded angrily to the New York State Supreme Court decision last week that he is liable for damages relating to the so-called Capco reinsurance deal that allegedly hid more than $200mn of auto warranty losses from American International Group (AIG).
  • US Risk subsidiary Goss Re has appointed three new partners, including former EW Blanch head Ted Blanch.
  • Antares completes property treaty line-up; Zurich appoints general CEOs; IAG hires Harmer...
  • US regulators have forced American International Group (AIG) to disclose the $125mn price tag for selling an 80 percent stake in a subprime lending subsidiary to Fortress Investment Group in August.
  • German reinsurer Hannover Re is set to book around EUR100mn profit in the third quarter after winning a legal dispute over the taxation of income generated by subsidiaries.
  • A lack of qualified regulators with insurance know-how threatens government plans to reform financial regulation in the UK, according to the International Underwriting Association (IUA).
  • In a deal worth up to $15mn, Bermudian legacy acquirer Tawa has completed its purchase of 94.3 percent of Island Capital Ltd - a trade credit and political risk insurer in run-off.
  • Legacy (re)insurance market service providers are seeking new opportunities as traditional sources of revenue threaten to dry up and liabilities shrink in the UK run-off industry.
  • BP has said it will waive a statutory limitation on liability under the US 1990 Oil Pollution Act (OPA) that could have capped its losses from April's massive oil spill in the Gulf of Mexico at $75mn.
  • A US district judge has quashed Lloyd's (re)insurers' attempts to dismiss a Florida property damage coverage dispute that has wide-ranging implications for surplus lines insurers in the state.