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Chaucer sets up Latin American fac operation
Lloyd's insurer Chaucer is opening a new office in Buenos Aires to write facultative property business, as it looks to exploit post-Chile rate hardening.
19 July 2010
Benmosche asserts authority with AIA Tucker move
The musical chairs are continuing at American International Group (AIG), with the US insurer reportedly set to parachute in former Prudential plc CEO Mark Tucker as head of its Asian unit, AIA.
19 July 2010
AIG settles Ohio class action suit for $725mn
American International Group (AIG) has agreed to pay $725mn to settle a class action suit brought by state pension funds that alleged the group engaged in accounting frauds and misled its investors between 1999 and 2004.
19 July 2010
Miller bulks up reinsurance with trio of senior hires
Independent London broker Miller Insurance Services is to beef up its reinsurance capabilities with the hire of two senior executives from Guy Carpenter and a derivatives specialist from Evolution Markets, The Insurance Insider can reveal.
16 July 2010
ABI loses director general after 6 months
Kerrie Kelly is to step down as director general of the Association of British Insurers (ABI) barely six months after taking the role.
16 July 2010
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
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