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AIG’s execs pay slashed 91 percent
American International Group’s (AIG) challenge of retaining its key management may have got tougher today (22 October) after the Obama administration’s pay tsar Kenneth Feinberg imposed brutal cuts on the salaries of its most senior executives.
22 October 2009
Marsh and AIG hit with fresh bid rigging suit
In the latest chapter of the bid-rigging saga that has haunted Marsh since 2004, the broking giant and American International Group (AIG) have been served with a lawsuit by US commodity producer and distributor Seaboard Corp.
22 October 2009
Platinum points to share buyback after record Q3 profit
Platinum Underwriters Holdings became the latest (re)insurer to herald a return to active capital management as it opened the Q3 reporting season with record profits for the period.
22 October 2009
New US tort threat creates ILS opportunity, says Millette
The convergence market’s uneasy relationship with US liability perils should be rethought as the prospect of a new era of tort expansion will create opportunities for the sector.
21 October 2009
Mullan named CEO of Max at Lloyd’s
Bermudian Max Capital Group has appointed Adam Mullan as CEO of Max at Lloyd’s – the managing agent for Syndicates 1400, 2525 and 2526 – as it looks to build out its Lime Street platform.
21 October 2009
Cooper Gay acquires Argentine reinsurance broker
Expansive Independent (re)insurance broker Cooper Gay has acquired a majority shareholding in Florida-based reinsurance broker, Reinsurance.com.ar LLC.
21 October 2009
World Bank launches cat bond platform
The World Bank is launching a catastrophe bond issuance platform to give governments and other public entities access to international capital markets for natural catastrophe insurance.
20 October 2009
P/C sector set for bumper Q3 underlying profits
As the first of the Q3 financials begin to trickle through this week led by Platinum Underwriters on Wednesday, the expectation is for bumper profits from property casualty (re)insurers...
19 October 2009
Quartet of new Lloyd's syndicates look for 2010 launch
Despite reined in optimism over underwriting conditions next year, a quartet of new Lloyd's syndicates are set to join Nick Jones' Apollo Syndicate 1969 in time for 1/1 launch 2010 launch.
19 October 2009
Restructured Generali gets modest tax boost
Italian insurance giant Generali's buy out of the 49.6 percent minority shareholding in its Alleanza Italian life insurance unit should produce tax savings of EUR40mn a year...
19 October 2009
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