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  • The US Treasury will recoup bonuses paid to employees of stricken American International Group (AIG) from the company, as the political firestorm over the payouts continues to spread.
  • Florida’s state-run property insurer Citizens Property Insurance Corp is set to sell $2.5bn of pre-event bonds to raise funds for potential claims arising out of the forthcoming hurricane season.
  • Arch Capital Group has become the latest Bermudian (re)insurer to set up in Lloyd's after receiving final approval to launch its new syndicate, executing plans first revealed by The Insurance Insider last December.
  • Channing Lucas & Partners approved as Lloyd's broker; Former Willis VP sentenced to prison term for fraud; Moody's warns of Syncora liquidation; Beazley sets up new US unit
  • Starr International hires Dangelo; Towers Perrin appoints Aon Benfield executives; Glencairn Energy picks up new deputy chairman; Torus appoints new US Head of Excess Casualty; Herman appointed president of Everest Specialty; WR Berkley names new Riverpor
  • As first revealed by our sister title Inside FAC, global broker Willis has confirmed it is bringing together the facultative units of Willis and Willis Re into a single global business unit to be known as Willis Facultative.
  • UK insurer Royal & SunAlliance (RSA) has extended its business processing outsourcing agreement with Accenture by a further two years.
  • Berkshire Hathaway's (BH) appetite for catastrophe reinsurance has been blunted and the company will write less in 2009 in order to protect its capital cushion, confirmed Warren Buffett last week.
  • The seven-year outsourcing contract for reinsurance broker Aon Benfield's UK claims back office won by business process outsourcing specialist Xchanging last week is worth between £20-25mn...
  • Ratings agency Standard & Poor's (S&P) has downgraded the insurer financial strength (IFS) rating of Bermudian reinsurer Everest Re to A+ from AA-.