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  • Aon Limited deputy chairman Jonathan Palmer-Brown has been elected as chairman of the London Market Insurance Brokers’ Committee (LMBC).
  • US broker Arthur J Gallagher & Co has completed the $40mn divestment of its reinsurance arm to Aon Corp.
  • Bermuda-headquartered Lloyd's (re)insurer Hiscox Ltd has teamed up with brokers Allison & Partners (A&P) to launch INSPIRE, providing specialist cover targeted at specialising in UK and European small to medium-sized businesses (SME).
  • US giant American International Group (AIG) has confirmed that it has paid $13.5mn in settlement with the Pennsylvania Insurance Department.
  • Aspen Insurance Holdings Limited has promoted Julian Cusack to chief operating officer.
  • Bermudian insurance group Ironshore Inc has launched IronHealth to write healthcare liability business, as it continues to grow its professional liability US-based subsidiary IronPro.
  • Italian insurance giant Generali will utilise its EUR3.2bn excess capital to target acquisitions next year, the firm announced.
  • Cayman Islands-based Greenlight Capital Re bounced back to profit in the final quarter of the year after its third quarter result was decimated by a $21.4mn investment loss.
  • Major brokers Marsh and Willis Group Holdings are opening offices in the Middle East as the region continues to attract interest from the industry.
  • Chubb insures the primary layer of the Marsh-placed $75mn directors' and officers' (D&O) programme for beleaguered investment bank Bear Stearns, our sister title The Insurance Insider revealed last week.