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  • Former American International group (AIG) chairman, Maurice "Hank" Greenberg has called the restatement of four years of the firm's earnings was "flawed".
  • Pact to speed claims settlements reached; Crawford relaunches UK claims solution brand; Risking it all?; XL adds to UK employers' liability product...
  • There are greater opportunities for acquiring and managing run-off and distressed portfolios in the US than in the London market, according to a senior figure at recently UK-listed run-off business Randall & Quilter Investment Holdings plc (R&Q).
  • The complicated and growing network of litigation spawned as a result of Bernard Madoff's now infamous alleged $50bn fraud shows no signs of abating after a Manhattan bankruptcy court published Madoff’s 162-page roll-call of clients on 4 February.
  • Berkshire Hathaway-owned reinsurer General Re (Gen Re) is to pay out $72mn to settle a claim brought by Ohio Attorney General Richard Cordray and three Ohio pension funds in relation to its role in the notorious $500mn fraudulent finite reinsurance transa
  • A New York court has recognised the jurisdiction of the UK courts in the insolvency of run-off insurer Highlands Insurance Company (UK) Ltd.
  • The tsunami of new run-off business that was widely forecast to swampthe industry in the wake of the global credit crunch is yet to materialise,prompting legacy leaders at the market's largest event - the Cavell Commutations Rendez-Vous in Norwich, UK - to discuss the gulf between expectation and reality.
  • Rating agency Standard & Poor’s (S&P) is launching a new set of ratings for the run-off sector to indicate the expectation of recovering the principal from (re)insurers.
  • Our monthly column keeping a check on recent US and EU legislative and regulatory developments, in association with Sidley Austin LLP.
  • EC3 players worried financial crises will lead to unwarranted scrutiny; FSA assessments launched.