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FSA concerned over insurers' grab for distribution
March discussion paper also raises again the prospect of mandatory disclosure
07 April 2008
2008 sees $3.75bn record loss quarter
Second worst ever quarter for single risk losses; but impact on rate pressures remains minimal
07 April 2008
London News Digest
Latest sat loss adds upward rate pressure;
07 April 2008
OIC and L&O creditors payouts increased
Creditors of OIC Run-Off Ltd (OIC) and The London and Overseas Insurance Company Ltd (L&O) will receive an increased payout of 48 percent, the joint scheme administrator has announced.
07 April 2008
Bear Stearns insurer 'not for sale'
Despite reports that run-off unit Minster is up for sale, JP Morgan is unlikely to dispose of the portfolio if its acquisition of Bear Stearns goes ahead, according to an advisor close to the deal.
07 April 2008
Mittal stake as Tawa targets new deals and investors
Tawa plc closed its acquisition of PXRE Reinsurance Company in a deal which saw a surprise $14.4mn investment from a trust owned by billionaire steel magnate Lakshmi Mittal family members.
07 April 2008
Insurers not liable for Bear Stearns settlement
Insurers are not liable for covering any part of an $80mn settlement made by troubled investment bank Bear Stearns over its stock research practices, the New York Court of Appeals has ruled.
07 April 2008
AIG makes $13.5mn settlement with Pennsylvania
US giant American International Group (AIG) has confirmed a $13.5mn settlement payout with the Pennsylvania Insurance Department.
07 April 2008
Gen Re to pay finite forfeiture
US reinsurer General Re is to pay the US government the $5mn fee it received for a sham finite reinsurance contract with American International Group, according to reports.
07 April 2008
Aspen back to roots with Lloyd's start-up
Aspen Insurance Holdings Ltd became the latest Bermudian to establish a Lloyd’s presence with the launch of start-up Syndicate 4711.
07 April 2008
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