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  • 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.
  • Global electronic banking payments specialist SWIFT is to provide an electronic platform for electronic data transmission to a group of major reinsurance players.
  • 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.
  • 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.
  • Negative trading on major worldwide insurance stocks was halted by global regulators last week in an attempt to stabilise stock markets.
  • 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.
  • 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...
  • 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.
  • American International Group, Inc. (AIG) has announced that its board has elected Edward Liddy as chairman and CEO, ending two days of speculation.
  • Ratings agencies have continued to be cautious on American International Group Inc’s (AIG) prospects despite its $85bn US Government rescue.