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  • UK general insurer Royal & Sun Alliance has unveiled plans to cut over 1500 jobs in an efficiency drive that will save the group £130mn in annual costs.
  • Former American International group (AIG) chairman, Maurice "Hank" Greenberg has called the restatement of four years of the firm's earnings was "flawed".
  • California's reputation as an employee-friendly jurisdiction was affirmed last week when R-T Specialty president and CEO Tim Turner won a ruling from a Los Angeles court that invalidates non-competition clauses in his contract with previous employer CRC, The Insurance Insider can reveal.
  • BP Marsh & Partners plc, the London-based investor in specialist insurance and other financial services related companies, listed on the Stock Exchange’s Alternative Investment Market last week valuing the company at over £41mn.
  • The pace of US federal securities class action lawsuits has been maintained since 2007, with a rise in M&A objection lawsuits offsetting a fall in credit crisis-related litigation
  • The California Earthquake Authority (CEA) has lined up the second $1.25bn portion of its 2012 reinsurance programme, according to board meeting materials posted on its website.
  • Speculation that UK broker Jardine Lloyd Thompson Group plc was considering a strategy of focussed regional growth was quashed today when the company announced a major restructuring that includes greater integration of its two separately branded wholesale
  • Despite the closure of Kinnect, an elite group of Lloyd’s insurers have banded together to drive down trading costs in London. A breakaway group of powerful Lloyd’s insurers has combined with a view to co-operate on areas of mutual benefit...
  • Lloyd’s insurer Amlin plc has seen its premium income drop 7 percent so far this year reflecting the softer market conditions.
  • The head of Aon Market Services for Asia has left the company, Insider Week has learnt.