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  • 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.
  • 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.
  • 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.
  • 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.
  • 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.
  • 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.
  • 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.
  • 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.
  • 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.
  • 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.