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  • 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.
  • Allianz-owned Dresdner Bank has offered its structured investment vehicle (SIV) K2 a $1.5bn bailout so it can service its outstanding $16bn debt.
  • Italian insurance giant Generali will utilise its EUR3.2bn excess capital to target acquisitions next year, the firm announced.
  • The British Insurance Brokers' Association (BIBA) has hit back at the Financial Services Authority's (FSA) "lengthy and costly" report into broker transparency and said the industry does not need regulatory intervention.
  • Grahame Chilton, Benfield Group CEO, has made an impassioned plea for a more joined-up approach to international regulation as he said the current fragmented structures are generating greater costs and complexities...
  • Security Capital Assurance (SCA) has fought back against a lawsuit filed by Merrill Lynch & Co alleging its financial guarantee subsidiary XL Capital Assurance Inc (XLCA) is attempting to avoid...
  • Markel International has promoted Jeremy Brazil to active underwriter of its Lloyd’s Syndicate 3000.
  • Richard Scruggs, the lawyer who successfully fought the tobacco companies in a series of class actions, is facing disbarment from the Mississippi Bar Association after pleading guilty to bribing a judge.
  • Aspen Insurance Holdings Limited has promoted Julian Cusack to chief operating officer.