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Four cat bonds on negative following Lehman collapse
The collapse of Lehman Brothers made its impact felt in the reinsurance convergence markets last week as ratings agency Standard & Poor's (S&P) put tranches of four cat bonds guaranteed by the failed investment bank on negative watch.
22 September 2008
US signals end of the investment bank
After a week of unparalleled upheaval in the financial world, the US Federal Reserve last night effectively signalled the end of the investment bank model as it agreed to convert Morgan Stanley and Goldman Sachs Group...
22 September 2008
Gallagher UK buys Oxygen's underwriting arm
US broker Arthur J. Gallagher has announced the acquisition of London-based underwriting agency Oxygen Insurance Managers Ltd, from its broker parent Oxygen Holdings Plc, as previously revealed by The Insurance Insider.
22 September 2008
IFEX lists third and fourth event contracts
The Insurance Futures Exchange (IFEX) revealed that from 19 September the Chicago Climate Futures Exchange (CCFE) began listing third and fourth event contracts for all its event linked futures (ELF) contracts.
22 September 2008
Thofern to head Aon Benfield Re in Germany
Jan-Oliver Thofern, the recently appointed head of Aon Re Germany, will lead the reinsurance broker's combined German operations once Aon Corp’s acquisition of Benfield Group is completed later this year.
22 September 2008
(Re)insurance stocks bounce back
Non-life (re)insurance stocks continued to bounce back this morning (22 September) as the mooted US government financial market rescue plans and temporary bans on short selling fuelled further buying of global financials.
22 September 2008
Insurers on short selling banned list; but major omissions
Negative trading on major worldwide insurance stocks was halted by global regulators last week in an attempt to stabilise stock markets.
22 September 2008
AIG will try to keep family silver: Liddy
American International Group (AIG) chief executive Edward Liddy was parachuted into the embattled organisation last week hoping to retain the firm’s core insurance operations.
22 September 2008
Chubb leads AIG $200mn D&O programme
A lawsuit from a US pension fund filed last week against American International Group Inc (AIG) and a number of its directors - including recently deposed CEO Robert Willumstad...
22 September 2008
Shareholders meet to keep AIG private
Leading shareholders in beleaguered American International Group Inc (AIG) are set to meet today in a bid to come up with an alternative plan to the $85bn federal government bail-out that would effectively nationalise the US giant.
22 September 2008
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