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Ratings agencies ready to take action on AIG
All four major ratings agencies are ready to take action on American International Group (AIG) after the giant insurers shock admission that it faces far greater losses from its exposure to the continuing credit crisis than previously reported.
18 February 2008
Sub-prime litigation outpaces savings-and-loan crisis
The number of sub-prime related cases filed in federal courts is dramatically outpacing the savings-and-loan (S&L) litigation of the early 1990s, according to a recent study.
18 February 2008
Starr announces AWAC tie-up
US insurer CV Starr & Co has announced a tie-up with Allied World Assurance Company (AWAC) enabling it to offer management liability lines on behalf of the Bermudian firm.
18 February 2008
Dubai sets up arbitration joint venture
The Dubai International Financial Centre (DIFC) has entered into a joint venture with the London Court of International Arbitration (LCIA) as the emirate aims to establish itself as an international arbitration jurisdiction.
18 February 2008
Argonaut results benefit from PXRE merger
Negative goodwill arising out of the reverse merger of PXRE Group has boosted specialty (re)insurer Argo Group's 2007 results.
18 February 2008
Ironshore chairman takes helm at nationalised Northern Rock
Ron Sandler, the chairman of Bermudian insurer Ironshore Ltd and the former CEO of Lloyd's, has taken the helm at newly nationalised UK bank, Northern Rock.
18 February 2008
SCOR renewals steady as new business replaces old
French reinsurer SCOR said 1/1 renewals confirmed the successful integration of last year’s acquisition of Converium, with a high retention rate and access to new business.
18 February 2008
Talbot boosts Validus earnings
The acquisition of Lloyd's insurer Talbot has boosted Bermudian Validus' full year 2007 net income by around 120 percent year-on-year.
18 February 2008
Jury retires in Gen Re trial
The jury has retired to consider its verdict in the trial of Gen Re and American International Group (AIG) executives over an allegedly sham finite reinsurance contract.
18 February 2008
Marsh UK severs ties with trio
Three long-serving Marsh Ltd figures are to part company with the firm.
18 February 2008
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