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Benfield invests in sidecar
Reinsurance broker Benfield Group Limited has made a cash investment of $20.5mn in Hannover Re's $133mn Florida-focused sidecar vehicle, Globe Re.
09 June 2008
Willis will lose HRH contingent commissions in three years
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.
09 June 2008
Bartley to step down as MMC CFO
Marsh & McLennan Companies (MMC) announced that CFO Matthew Bartley will become the latest senior executive to leave the company.
09 June 2008
Aon launches global placement tool
Broker Aon Global UK has launched a compliance tool for buyers of global (re)insurance programmes.
09 June 2008
Lehman plans to raise further $6bn after losses
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.
09 June 2008
Greenberg to see AIG documents
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.
09 June 2008
Gulf Re receives license
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.
09 June 2008
Sampo unit buys Russian insurer
Finnish insurance group Sampo's P&C insurance subsidiary has agreed to purchase Russian insurer SOAO Region, the group announced last week.
09 June 2008
UK insurers slash jobs
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.
09 June 2008
AIG investigated over CDS valuation
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.
09 June 2008
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