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  • Reinsurance broker Benfield Group Limited has made a cash investment of $20.5mn in Hannover Re's $133mn Florida-focused sidecar vehicle, Globe Re.
  • Willis has committed to phasing out its newly acquired contingent commissions within three years following its announced acquisition of Hilb Rogal & Hobbs (HRH) for $2.1bn.
  • Marsh & McLennan Companies (MMC) announced that CFO Matthew Bartley will become the latest senior executive to leave the company.
  • Broker Aon Global UK has launched a compliance tool for buyers of global (re)insurance programmes.
  • CV Starr has emerged as one of a number of candidates targeted by Lehman Brothers to buy a stake in the credit crunch-hit investment banking giant.
  • American International Group (AIG) has been ordered to give its former CEO and chairman, Maurice “Hank” Greenberg, access to company documents by the New York Court of Appeals.
  • Gulf Re, the $400mn reinsurer formed in a joint venture between Arch Capital Group Ltd and Gulf Investment Corporation (GIC), has been granted a licence by the Dubai authorities.
  • Finnish insurance group Sampo's P&C insurance subsidiary has agreed to purchase Russian insurer SOAO Region, the group announced last week.
  • Two major UK insurers have revealed job cuts that could total almost 3,000 staff as they face up to "difficult times" and changes in the way business is placed.
  • Shares in American International Group Inc (AIG) fell 7 percent to close at $33.93 Friday after it emerged the company is being investigated by the Securities and Exchange Commission (SEC) over its valuation of contracts linked to sub-prime mortgages.