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  • Former Swiss Re director Eric Gao will head up Lloyd's Chinese operations, Lloyd's Reinsurance Company (China) Ltd.
  • A group of erstwhile American International Group Inc (AIG) executives including former chairman Maurice "Hank" Greenberg have agreed to pay $115mn to settle a shareholder derivative lawsuit over payments made to the Starr companies.
  • William Lowe, one of the founders of (re)insurance broker Lockton International's Bermuda office, has left the company, The Insurance Insider has learned.
  • American International Group (AIG), the embattled insurance giant, has approached the Federal Reserve for a $40bn bridging loan to stave off the prospect of damaging credit downgrades that could force a liquidity crisis at the firm.
  • Over the course of the Monte Carlo Rendez-Vous last week, the proposed senior management structure at Aon Benfield Re began to emerge once the two firms complete their merger later this year.
  • The financial strength rating of the reinsurance arm of Lehman Brothers was downgraded last week ahead of today's announcement (Mon) that the famous Wall Street investment bank had filed for bankruptcy.
  • The catastrophe futures market traded $3.45mn of notional volume during the development of Hurricane Ike, which made US landfall as a Category 2 hurricane on Saturday (13 September).
  • There are greater opportunities for acquiring and managing run-off and distressed portfolios in the US than in the London market, according to a senior figure at recently UK-listed run-off business Randall & Quilter Investment Holdings plc (R&Q).
  • Limited growth opportunities in the Japanese property and casualty (P&C) insurance market has led rating agency Moody's to issue a negative outlook on the sector.
  • RK Harrison Insurance Brokers Ltd has confirmed the "imminent" acquisition of Lloyd's broker, Bowood Holdings Ltd.