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  • The soon-to-be giant broking combine Aon Benfield Re has finalised the management structure for its analytics team, as it emerged last week that Benfield shareholders had voted 99.8 percent in favour of the union with Aon.
  • UK life insurer Prudential has emerged as a potential bidder for some of AIG’s Asian Life units, according to reports. The reports said that the UK firm is understood to be willing to issue new shares to the value of £1.3bn...
  • Arch Capital Group Ltd is close to launching a new Dublin-based reinsurer that will act as a hub for its European reinsurance operations, The Insurance Insider can reveal.
  • Flagstone Reinsurance Holdings Ltd has ended its search for a Lloyd’s platform with an agreement to buy Marlborough Underwriting Agency Ltd from Berkshire Hathaway, as it becomes the eighth Bermudian to establish a Lime Street presence since the start of
  • Shares in specialty (re)insurer Catlin Group Limited, were under pressure in London this morning as it unveiled Q3 estimates for mark to market investment declines and losses from Hurricane Ike and Gustav totalling 11 percent of shareholders’ Q2 equity.
  • AM Best has downgraded Bermuda-based insurer XL Life reinsurance’s financial strength rating from A to A-, citing declining premium and capitalisation pressure as its parent, XL Capital Ltd has been winding down its business profile...
  • American International Group (AIG) has agreed to hand over details of all compensation paid to senior executives to New York attorney general Andrew Cuomo as he looks to recover “illegal expenditures” from the beleaguered insurer.
  • After the gains of earlier in the week, European and Asian shares have continued to fall this morning (16 October) amid gloomy economic news both sides of the Atlantic.
  • Ascot Underwriting founder Martin Reith has stepped down as its CEO just months after agreeing a deal with American International Group (AIG) for the Lloyd’s insurer to become a wholly owned subsidiary of the troubled US giant.
  • New York attorney general Andrew Cuomo is to scrutinise executive compensation since the start of 2007 at American International Group (AIG) as he launched a probe into what he called “unwarranted and outrageous” spending by the fallen giant.