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  • 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.
  • 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.
  • 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.
  • 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.
  • Kerrie Kelly is to step down as director general of the Association of British Insurers (ABI) barely six months after taking the role.
  • 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.
  • 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.
  • 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.
  • 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.
  • Matthew Fairfield, global operations CEO of Lloyd's insurer HCC, has resigned, The Insurance Insider can reveal.