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AIG downgraded despite $20bn capital raise
Moody's has downgraded the debt ratings of American International Group (AIG) despite the insurance giant completing a $20bn capital raising exercise yesterday.
23 May 2008
Lloyd's members vote for reform proposals
Members of Lloyd's have voted overwhelmingly in favour of the proposed amendments to the Act governing the market.
22 May 2008
QBE withdraws from A$8.7bn IAG takeover bid
Insurance Australia Group's (IAG) chairman James Strong has been lambasted by shareholders following his rejection of QBE Insurance's "final merger offer", which has led to talks ending between the firms.
22 May 2008
Heath Lambert withdraws wholesale unit from Cooper Gay sale
A major unit in the transfer of Heath Lambert's wholesale division to Cooper Gay will no longer be a part of the proposed sale, The Insurance Insider has learnt.
21 May 2008
JLT in advanced talks to buy London reinsurance broker
Listed London market reinsurance intermediary Jardine Lloyd Thompson (JLT) is in advanced talks to purchase independent broker Harman Wicks & Swayne (HWS), The Insurance Insider understands.
21 May 2008
Hannover Re sees Q1 profit increase
Hannover Re's net profits rose by more than a fifth to EUR151.5mn in the first quarter, according to the reinsurer's interim report.
20 May 2008
IAG formally rejects QBE's 'final offer'
Australian insurer Insurance Australia Group (IAG) looks poised to offer shareholders an array of initiatives to restore confidence in the company's growth prospects after chairman James Strong formally rejected QBE Insurance's raised offer.
20 May 2008
Credit crunch may end FSA's 'light touch' approach
The UK's Financial Services Authority (FSA) has suggested that the "light touch phase of the regulatory cycle" may be over, as "lessons are learnt" from the current credit crisis, according to a spokesman.
20 May 2008
Hannover Re predicts low China quake losses
Hannover Re has revealed that its pre-tax net loss burden from the recent Chinese earthquake is likely to be more than EUR10mn.
20 May 2008
Arch Worldwide reveals new chief; announces $500mn share buyback
Arch Capital Group has announced a new chairman and CEO for Arch Worldwide Insurance Group, following news it is to start a $500mn share buyback scheme.
19 May 2008
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