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Levene insists he can combine bank and Lloyd’s roles
Lord Levene is adamant that he can continue to fulfil his responsibilities as Lloyd's chairman despite his new role as executive chairman of an unnamed start-up looking to muscle its way into the UK consumer banking sector.
16 July 2010
New Xchanging e-accounts to take premium splits from London brokers
Xchanging has unveiled a deal with the International Underwriting Association of London (IUA) and the Lloyd's Market Association (LMA) to build enhanced electronic accounting within the existing Insurers' Market Repository (IMR) infrastructure.
16 July 2010
Ryan makes first acquisition
R-T Specialty, the wholesale arm of Pat Ryan's broking start-up, has made its first acquisition, picking up California-based wholesaler Chartwell Independent Insurance Brokers.
16 July 2010
Goldman Sachs to pay $550mn CDO settlement to SEC
Goldman Sachs has agreed to pay $550mn to the Securities and Exchange Commission (SEC) to settle charges that it defrauded investors over the sale of subprime mortgage products that ultimately cost its customers more than $1bn.
16 July 2010
HCC global CEO resigns
Matthew Fairfield, global operations CEO of Lloyd's insurer HCC, has resigned, The Insurance Insider can reveal.
15 July 2010
CNA in $1.6bn Berkshire asbestos deal
CNA Financial Corporation has announced a deal to offload $1.6bn of asbestos and environmental pollution liabilities to US reinsurance giant Berkshire Hathaway.
15 July 2010
Dual signs up Newline and raids Axis in D&O drive
Expansive London-based agency Dual Corporate Risks (DCR) has signed up Newline Syndicate 1218 to provide £10mn of excess capacity for directors' and officers' (D&O) business, while simultaneously raiding Axis Capital to bolster its team.
15 July 2010
Markel in $135mn US workers’ comp acquisition
Specialty (re)insurer Markel Corporation has acquired privately owned US workers' compensation insurer Aspen for $135mn in cash.
15 July 2010
Mantega to set up state insurance company
Brazilian finance minister Guido Mantega is to set up a state-run insurance company designed to fund future infrastructure projects.
15 July 2010
Golub quits AIG after Benmosche bust-up
American International Group (AIG) chairman Harvey Golub has quit the firm over a rift with the group's CEO Robert Benmosche, and has been replaced with immediate effect by Robert S "Steve" Miller.
15 July 2010
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