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  • The Office of Fair Trading (OFT) has cleared Aon Corporation's proposed takeover of reinsurance broker Benfield Group, removing one of the final potential obstacles to the deal.
  • While President-elect Obama's democratic administration will move to "re-examine" the relationship between low-tax domiciles and the US, the US is currently in "desperate need of capital for its insurance market"...
  • Hurricane Ike, which made landfall as a category two hurricane over Galveston Island, Texas on 17 September after smashing Cuba and the Caribbean, confounded modelling agencies by forming much further west...
  • Swiss-based (re)insurer Glacier Group says it expects gross claims before reinsurance from Hurricanes Gustav and Ike of $6mn and $65mn respectively, based on industry loss estimates of $5bn for Gustav and $16bn for Ike.
  • French-headquartered reinsurer SCOR booked a relatively strong net profit for the year to 30 September of EUR280mn – down just 6.7 percent on the prior-year period.
  • BMS Group is set for a High Court showdown with CJ Coleman this week over the departure of the former managing director of its BMS Harris & Dixon Ltd subsidiary and a team to the rival London market broker earlier this year.
  • American International Group (AIG) has cancelled its deferred compensation programmes as it looks to remove incentives for staff to leave.
  • Transatlantic Re’s President Robert Orlich welcomed American International Group’s (AIG) revised loan terms with the Federal Reserve as giving the insurance giant “more time to ensure that the right decisions are made...
  • Troubled Australian insurance group IAG has confirmed it is placing its Singapore-based Lloyd's Syndicate 4455 into run-off and will also close its London-based Lloyd's managing agent Diagonal.
  • Marsh & McLennan (MMC) has spun off its London-based restructuring and European corporate advisory business in two management buy-outs (MBOs) in a move which will see the majority of Kroll’s team join Zolfo Cooper Europe.