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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.
  • 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.
  • Stuart Degg, the founding chief executive of Libero Ventures, is in talks to recapitalise Libero following Lehman Brother's filing for bankruptcy protection.
  • 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
  • Ratings agency Standard & Poor's (S&P) has put tranches of four cat bonds guaranteed by failed investment bank Lehman Brothers on negative watch.
  • 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.
  • In the absence of major loss events, negative ratings actions, reinsurer takeovers or run-off announcements, the Monte Carlo Rendez-Vous gives the large reinsurers their chance to flag up concerns before the renewal process begins in earnest.
  • Willis has confirmed that it will resurrect the Faber & Dumas brand as an umbrella organisation for its group-owned third-party London wholesale brokers, as first revealed by The Insurance Insider.
  • William Lowe, one of the founders of (re)insurance broker Lockton International's Bermuda office, has left the company, The Insurance Insider has learned.