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  • Insurance simply does not present the same systemic risks as banking, so regulators should not treat the two sectors in the same way, the chief economist of Swiss Re today told an industry forum in London.
  • The former head of Aon Ltd Healthcare, Rob Todd, has joined international insurance broker and risk manager Integro.
  • The UK High Court yesterday (November 30) granted the English and American Underwriting (EAUA) Pools leave to convene meetings of creditors, The Insurance Insider understands.
  • American International Group (AIG) has closed a debt-for-equity swap with the Federal Reserve Bank of New York that will slash its government debt by $25bn, in return for a stake in its two life insurance units, which will eventually be spun off from the group.
  • Jardine Lloyd Thompson (JLT) has delivered on ambitions to expand its presence in the employee benefits arena with a £27.5mn cash purchase of HSBC Actuaries and Consultants (HACL).  
  • Max Capital promotes Kalainoff; Liberty hires former Ace legal counsel; Liberty appoints London casualty manager; Torus adds dedicated US property claims service with new hire; New CFO for Argo
  • Cooper Gay expands in US with Atlanta opening; State Farm appeals Texan fine
  • Investment analysts are concerned about the quality of financial reporting from the insurance sector, which they believe is under-valuing major companies.
  • Run-off specialists have warned that a UK bill on the rights of third parties claiming against insolvent insurers places further administrative burdens on the industry.
  • London market (re)insurers are not expecting significant claims to result from the Russian train disaster last Friday in which 25 people were killed, The Insurance Insider understands.