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  • American International Group (AIG) is accelerating steps to position its American Life Insurance Company (ALICO) subsidiary for a spin-off, as it continues to assess strategic options for the US life business, which may yet lead to a trade sale.
  • Lloyd's (re)insurer Hardy has confirmed that its deal to be acquired by CNA has become fully effective and that its shares will cease trading.
  • A magnitude 6.7 earthquake and magnitude 5.1 aftershock that struck offshore of central Chile late on 16 April did not cause major damage to surrounding cities, said cat modelling firm AIR Worldwide
  • Rating agency Moody's has withdrawn the debt ratings on Flatiron Re after its loans were repaid in full earlier this year...
  • Bermudian reinsurers Everest Re and PartnerRe both reported third quarter results last week comfortably ahead of analysts' estimates after benefiting from this year's low catastrophe losses.
  • Global reinsurer Transatlantic Re has announced that it is estimating net losses of $240mn from the Japanese earthquake and tsunami last month
  • The seventh and final executive convicted over a fraudulent $500mn reinsurance deal that misled investors about AIG's financial health is set learn his fate on 15 September.
  • Xchanging has priced its proposed initial public offering (IPO) at 210 to 240 pence a share, effectively valuing the company at £500mn at the mid-point price.
  • Swiss reinsurer Converium has unveiled a new organisational and financial reporting structure, together with a management shake-up.
  • BNP Paribas and Deutsche Bank are marketing a $200mn US wind and quake cat bond for French reinsurer SCOR, our sister title Trading Risk revealed on 15 January.