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  • Global insurer Allianz announced the acceleration of the sale of its underperforming banking subsidiary Dresdner Bank to Commerzbank so that the latter will buy an additional 40 percent stake in Dresdner with immediate effect, instead of at the end of 200
  • Aviation pool Global Aerospace Underwriting Management (GAUM) leads the $47mn hull cover for the Air New Zealand-owned Airbus A320 that crashed on 27 November in Perpignan, The Insurance Insider understands.
  • Structural issues and confusion over pricing levels have stalled any new catastrophe bond issuance for the remainder of 2008, Trading Risk revealed last week
  • Aviation pool Global Aerospace Underwriting Management (GAUM) leads the $47mn hull cover for the Air New Zealand-owned Airbus A320 that crashed yesterday (27 November) in Perpignan, The Insurance Insider understands.
  • Amlin plc is raising capital to form a new quota share syndicate for 2009 financed by Lloyd’s Names to take advantage of the improving market conditions, The Insurance Insider can reveal.
  • The audacious hijacking of the Saudi supertanker Sirius Star 400 nautical miles off the coast of Kenya earlier this month upped the ante for piracy in the region and is causing hull, cargo and P&I underwriters to look closely at policy wordings...
  • BMS Group has reached a settlement with former senior employees and rival London market broker CJ Coleman (CJC) over claims of conspiracy and gross breach of duty that it brought to the UK High Court on 24 November, The Insurance Insider has learnt.
  • Fabrice Desnos, CEO of Credit insurance specialist Euler Hermes UK has told The Insurance Insider that an increasing number of risks “have become uninsurable in the strictest sense” and underwriters are having to be more selective...
  • The acrimonious defection of a UK construction team to London market broker RFIB Group has failed to wrestle the major Balfour Beatty civil engineering account, The Insurance Insider can reveal.
  • American International Group (AIG) has slashed senior executive remuneration as a gesture to its new US political paymasters and in an attempt to speed the group to recovery, with CEO Ed Liddy earning a $1 salary for 2008-2009.