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  • After multiple delays, under-fire insurer AIG has announced today that it has finally filed its 2004 Form 10-K with the Securities and Exchange Commission (SEC). The insurance giant, which was forced to restate its accounts in the wake of the SEC...
  • French insurance giant Axa saw net income for the first half of the year drop 28 percent to EUR944mn after sustaining a EUR1.48bn loss related to the sale of part of its UK life operations earlier in the year.
  • But Plumeri points the way to a brave new world... April became the cruelest month for Willis, with job losses, a licence suspension, a more than halving of profits and the setting up of a $20mn legal reserve all occurring recently.
  • The Financial Services Authority (FSA) has admitted to failings in relation to the meltdown at Northern Rock and has pledged to improve its supervision levels.
  • Pamplona Capital Management, the private equity firm that is in a three-horse race to acquire Chaucer Holdings, is considering an offshore special purpose vehicle (SPV) structure to own...
  • An increase in casualty and asbestos reserves at a US unit has forced a 74 percent drop in second quarter profits at world’s largest reinsurer Munich Re.
  • Benign catastrophe conditions contributed to US insurer The Hartford Financial Services Group reporting record fourth quarter net income of $783mn, or $2.42 a share, and full year 2006 net income of $2.7bn – a 21 percent increase on 2005.
  • Aon Corporation has announced the launch of a new Takaful unit, which will form part of its reinsurance arm Aon Re Global.
  • In contrast to a number of its Bermudian compatriots, Everest Re has booked fourth-quarter net and operating profits that are significantly higher than in the comparable prior-year periods
  • Bermudian giants ACE Ltd and XL Capital reported analyst-beating first quarter profits last week, but the companies’ performances met with a mixed response from analysts.