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Dunn joins JLT Re treaty practice; Markel hires Leach as underwriter
24 August 2009
IAG limps into profit
Troubled Australian insurer Insurance Australia Group (IAG) has returned to profit for the full financial year to 20 June 2009 - posting a net gain of A$181m, compared to a loss of A$261mn in FY2008.
24 August 2009
Final sentencing date scheduled for ex-Gen Re exec
Former General Reinsurance Corp senior vice president Richard Napier is scheduled to be sentenced on 15 September for his role in a sham finite reinsurance transaction involving the Berkshire Hathaway-owned reinsurer and American International Group (AIG)
24 August 2009
Benmosche's AIG pay deal announced
Robert Benmosche, American International Group (AIG)'s new chief executive, will receive annual pay of $7mn in cash and shares and is in line for a bonus of $3.5mn a year.
24 August 2009
Beazley plans sidecar to grow reinsurance business
Beazley Group is looking to launch a Names-backed special purpose syndicate (SPS) to reinsure its treaty account in time for 1 January 2010, which would make it the latest Lloyd’s (re)insurer to utilise the sidecar-style structure.
24 August 2009
QBE stock rises on encouraging interims
The share price of expansive Australian insurer QBE rose by A$6.36 to close at A$22.60 on 20 August as it released robust results for the first half of the year, including a record H1 profit after tax of A$1.018bn ($832mn).
24 August 2009
Munich Re faces bulk of $200mn RusHydro loss; PA also hit
Munich Re is set to pick up the bulk of last week's $200mn RusHydro loss as part of a property facultative placement, our sister title Inside FAC has revealed.
24 August 2009
GAO: Superfund litigation waning
The number of Superfund cases filed annually in US district courts decreased by almost 50 percent between 1994 and 2007 - the period for which data is available - according to the US Government Accountability Office (GAO).
24 August 2009
Chaucer in US energy tie-up with Global Special Risks
Chaucer Syndicates Ltd (Chaucer) has unveiled a strategic partnership with US-based insurance broker Global Special Risks, LLC (GSR) for a new underwriting platform for land-based oil and gas operators in North America.
24 August 2009
Canopius CEO steps down
Canopius Managing Agents CEO Clive Watson is to leave the Lloyd's (re)insurer with effect from 1 October. A successor is yet to be found...
24 August 2009
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