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Beazley confirms MUM $37.5mn acquisition
Beazley Group has acquired the London-based personal accident underwriting agency Momentum Underwriting Management Ltd (MUM) for up to $37.5mn, the quoted Lloyd’s insurer revealed today.
22 September 2008
SWIFT to launch electronic reinsurance platform
Global electronic banking payments specialist SWIFT is to provide an electronic platform for electronic data transmission to a group of major reinsurance players.
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
Industry reveals extent of Lehman exposures
The global (re)insurance industry has been counting the cost and revealing its total exposure to failed US investment bank Lehman Brothers, which filed for bankruptcy protection on 15 September.
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
(Re)insurance stocks buoyed by government rescue plans
Swiss Re led soaring stock values among global (re)insurers as markets were buoyed by mooted US government financial market rescue plans and the temporary ban on short selling – with FTSE 350 non-life stocks averaging gains of more than 10 percent.
19 September 2008
AIG confirms Liddy appointment
American International Group, Inc. (AIG) has announced that its board has elected Edward Liddy as chairman and CEO, ending two days of speculation.
19 September 2008
Rating agencies still cautious on AIG
Ratings agencies have continued to be cautious on American International Group Inc’s (AIG) prospects despite its $85bn US Government rescue.
19 September 2008
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