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  • Heavy claims in the first half of 2008 have pushed the US property casualty insurance industry to an underwriting loss of $5.6bn for the period, and a combined ratio above 100.
  • Transatlantic Re, the New York headquartered reinsurer which is majority owned by AIG, is optimistic that its ownership will be resolved later this month to limit uncertainty as the industry gears up for the forthcoming renewal season...
  • Offshore energy losses from Hurricane Ike could cost the market over $3bn, it has emerged.
  • Lloyd’s (re)insurer RJ Kiln and Co is to form a new syndicate for the 2009 year of account, The Insurance Insider understands.
  • AIG’s fate remains uncertain as financial storms continue to rage...
  • American International Group’s (AIG) enforced metamorphosis from a global financial services firm to what its new chairman and CEO Edward Liddy hopes will be a “smaller but more nimble company that is solidly profitable and has attractive long-term growth
  • Xchanging plc, the London market back office firm has agreed a deal to buy a 75 percent stake in fellow outsourcing provider Cambridge Solutions Ltd for £83mn in cash and shares.
  • European giant Allianz SE has come to the rescue of The Hartford Financial Services Group with a $2.5bn capital investment, as the troubled US insurer revealed it expects to take a heavy third quarter loss driven by net realised capital losses of up to $2
  • American International Group (AIG) is to refocus as a property and casualty insurance businesses as it looks to generate funds to pay off the outstanding balance on its $85bn government bail-out loan and address its capital structure.
  • American International Group (AIG) has been providing more details on its asset sale plans as it focuses on its core property and casualty insurance operations.