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AIG to focus on P&C; draws down $61bn on Fed loan
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.
03 October 2008
R&Q ramps up with Helix hires
UK run-off acquisition firm Randall & Quilter Investment Holdings plc (R&Q) has strengthened its senior management with the appointment of Helix UK Ltd directors Colin Johnson and Mike Palmer.
02 October 2008
Greenberg asks for opportunity to bid on AIG assets
Former American International Group (AIG) CEO Hank Greenberg has written to the beleaguered insurer asking for the chance to bid for assets the company plans to sell to repay the $85bn loan granted as part of last month's US government bail-out.
01 October 2008
Kiln Group appoints new CEO
Lloyd’s insurer Kiln Group has appointed Charles Franks to replace Edward Creasy as CEO from the start of 2009 in a senior management reshuffle.
01 October 2008
Hartford slump continues on exposure fears
Shares in US insurance giant Hartford Financial Services Group have slumped a further 15 percent today as investors react to fears over the company's exposure to troubled companies such as AIG and Washington Mutual.
01 October 2008
(Re)insurance stocks steady on bail-out failure
Global (re)insurance stocks remained steady in early trading today (30 September) as news of the rejection by US Congress last night of the $700bn rescue package for the country's ailing banking sector sent tremors through global indices.
30 September 2008
Heavy H1 claims drag US p/c insurers to underwriting loss
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.
30 September 2008
Liberty fights back over S&P downgrade
Liberty Mutual Group has fought back against its downgrade by Standard & Poor's (S&P) following the closure of its $6.2bn acquisition of rival Safeco last week.
29 September 2008
New bill refuels US tax debate
Both sides in the US taxation debate were quick to respond last week to proposed legislation aimed at levelling the playing field between foreign-owned and domestic carriers writing business in the world's biggest insurance market.
29 September 2008
Lloyd's cuts back in softer market
Lloyd's posted an interim profit before tax of £949mn for the six month period ending 30 June 2008, a fall of 47 percent against 2007's record figure of £1.8bn.
29 September 2008
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