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  • 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.
  • Ratings agency Standard & Poor's (S&P) has put tranches of four cat bonds guaranteed by failed investment bank Lehman Brothers on negative watch.
  • American International Group Inc (AIG) is facing isolation in the marketplace as clients and brokers look to divert business away from the ailing insurance giant amid speculation that a $75bn government-backed rescue plan will be launched later today.
  • AIM-listed Randall & Quilter Investment Holdings plc has announced the acquisition of the parent company of run-off group KMS Group of Companies for £1.78mn, as it continues to eye further acquisitions.
  • 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.
  • American International Group’s (AIG) liquidity crisis intensified overnight after Standard & Poor’s (S&P), Moody’s, Fitch and AM Best all cut their ratings on the firm, forcing the embattled insurer to find yet further capital to place as collateral again
  • Silence may be golden, but it cost AIG investors yet further pain today with the beleaguered insurer's stock halving in value this morning after the company failed to update the market on its rescue initiatives.
  • Establishing a presence at Lloyd's is a possibility for Bermudian (re)insurer Endurance Specialty Holdings Ltd, according to CEO Ken LeStrange.
  • Lloyd's received a boost in its ongoing legal battle with refusenik Names after the High Court granted extended civil restraint orders against them.
  • The long-term effects of Lloyd's businesses re-domiciling could be damaging to the market, CEO Richard Ward has warned.