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AIG units seek to reassure policyholders
The president and chief executive of up-for-sale American International Group Inc (AIG) reinsurance arm Transatlantic Reinsurance Co has written to clients and brokers in a bid to address concerns over the plight of its majority owner and the firm’s downg
18 September 2008
Senior Marsh UK exec replaced
Chris Wallace the head of the commercial client practice at Marsh UK has left the company “to pursue other interests”, The Insurance Insider has learned.
18 September 2008
AIG shareholder files lawsuit alleging mismanagement
A US pension fund is suing American International Group Inc (AIG), according to reports.
18 September 2008
AIG woes ‘substantial opportunity’ for Lloyd’s, says analyst
Business volumes at Lloyd’s are likely to rise in the wake of American International Group Inc’s (AIG) widely publicised difficulties, according to a leading analyst on the sector.
18 September 2008
R&Q posts £4.5mn operating profit; predicts new run-off opportunities
UK run-off acquisition firm Randall & Quilter Investment Holdings plc (R&Q) has shrugged off growing competition to post a group operating profit of £4.5mn (2007: £3mn) for the first six months of the year while also predicting that the tough market condi
18 September 2008
AIG rescued by US authorities; asset sell-off to follow
On the brink of Chapter 11, American International Group Inc (AIG) was rescued by a lifeline from the Federal Reserve who agreed to lend the distressed insurance giant up to $85bn for two years in exchange for a 79.9 percent equity stake.
17 September 2008
AIG rejected Greenberg's last-gasp offer of help
Hank Greenberg, the former chief executive of American International Group Inc (AIG) wrote a letter to the group's current head, Robert Willumstad, reflecting his frustration at the firm's repeated refusal to accept offers of help.
17 September 2008
'Vultures circle' over AIG business despite rescue: sources
American International Group Inc (AIG) will face difficulties in retaining its book of business despite yesterday's (16 September) eleventh hour $85bn US government-backed rescue.
17 September 2008
Lehman Re loses A rating
Ratings agency AM Best has downgraded its financial strength rating of Lehman Re Limited, investment bank Lehman Brothers’ reinsurance subsidiary, three notches to B (Fair) from A- (Excellent).
17 September 2008
AIG share price plummets yet further; Goldman stock down
Shares in American International Group Inc (AIG) tumbled further today (16 September) on the back of continued capital raising uncertainty and yesterday’s rating agency downgrades.
16 September 2008
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