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  • American International Group (AIG) has moved to calm the choppy waters around the unwinding of its doomed financial products business (AIGFP) by persuading a senior executive at the division to reverse his resignation in order to avert potential legal act
  • Broking giant Willis Group’s French-based affiliate, Gras Savoye & Cie, is reportedly looking at alternative investment solutions over a put option purchased by the former in 1997, which could oblige it to increase its stake in France’s largest broker...
  • WR Berkley has confirmed the launch of its Lloyd's platform headed by former Brit Insurance executive Mike Sibthorpe, a move first revealed by The Insurance Insider.
  • Willis Group is not in dispute with shareholders in its affiliate Gras Savoye & Cie over the valuation of the French broker.
  • What looks to have been a benign first quarter for losses helped a trio of Bermudian (re)insurers book relatively solid underlying results, but was not enough to spare US insurer WR Berkley from falling to a net loss for the period.
  • XL Capital saw its revenues fall sharply and earnings dented in the first quarter but said a “back to basics” approach was beginning to pay dividends with a healthy 93 percent combined ratio in its core P&C operations (93.6 percent 1Q, 2008).
  • Max adds to Lloyd's platform with UW hires; Allied World bags Bermuda team from AIG; Brit recruits LM specialist for new role; RFIB appoints new IT head from Aon Benfield; Senior Marsh exec moves to JLT's Dubai office...
  • Chubb's income for first quarter 2009 almost halved compared to the same period last year - as net profits fell to $341mn compared to $664mn - after it was hit by losses on alternative investments and impairments totalling $266mn.
  • The Association of British Insurers (ABI) is demanding a complete reassessment of the UK's flood risk, and in particular surface water drainage (SWD), as part of the consultation process for the draft flood and water management bill released by the govern
  • Bermudian reinsurer Platinum Underwriters posted a 19.3 percent year-on-year decline in its first-quarter net income to $84.9mn.