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Lexington's Archambault latest to join Ironshore
The exodus of senior figures from American International Group (AIG) to Ironshore seen in recent months continued this week, with the appointment of Andrew Archambault as senior vice president of reinsurance.
23 April 2009
EU Parliament approves Solvency II
The European Parliament (22 April) approved the Solvency II framework directive without the contentious group support provision – a development which European insurance and reinsurance federation the CEA described as a "missed opportunity".
22 April 2009
Munich Re projects "satisfactory" Q1 results
The chairman of Munich Re's board of management has described the emergence of a "satisfactory" first quarter result ahead of the publication of its Q1 figures on 6 May.
22 April 2009
Catlin launches new Lloyd's life syndicate
Catlin Group is launching a new Lloyd’s Syndicate and has opened a Guernsey branch office to write term life (re)insurance business.
22 April 2009
Lloyd's swoops to buy back £100mn marked-down debt
Lloyd's has made a tender to repurchase up to £100mn of the approximate £1.1bn in long-term corporate debt it manages as part of the central assets the Society holds on behalf of the market.
22 April 2009
Double boost for Lloyd's insurers in '09 UK Budget
Lloyd's insurers are set for a boost as the UK Treasury confirmed it will bring the tax treatment for their equalisation reserves in line with general insurance companies.
22 April 2009
AIG speeds up spin-off of general insurance business
American International Group (AIG) is speeding up the process of ring-fencing its general insurance operations, as it looks to reposition them as an independent entity ahead of a potential initial public offering (IPO).
22 April 2009
AIG completes $30bn credit line with US Treasury
Troubled American International Group (AIG) has finalised its latest round of government funding – a $29.84bn purchase agreement with the US Treasury which it first announced in March.
21 April 2009
ABI: £730mn in fraudulent UK claims exposed in 2008
The value of fraudulent UK insurance claims rose 30 percent to £730mn in 2008, while the number of fraudulent claims rose 17 percent against 2007 to 107,000, according to figures released by the Association of British Insurers (ABI).
20 April 2009
DARAG deal moves closer to BaFin approval
German regulator BaFin is set to give its verdict on German hedge fund Augur Capital's EUR20mn acquisition of Deutsche Versicherungs- und Rückversicherungs-AG (DARAG) later this week, The Insurance Insider understands.
20 April 2009
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