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  • American International Group (AIG), which received $182.5bn from the federal government's $700bn Troubled Asset Relief Program (TARP), has missed three dividend payments to the Treasury.
  • Redholm Underwriting Agents is set to write $120mn in aviation capacity at Lloyd’s this year and has begun filling the vacancies created by a mass defection to American International Group (AIG).
  • Damning judgment involving "grave dishonesty" and "corruption of standards" In one of the industry's most eagerly awaited judgments in modern times, Sphere Drake has avoided over $250mn of exposures after broker Stirling Cooke Brown was lambasted by a
  • Insurers exposed to the myriad of US shareholder class action suits were encouraged by New York courts last week who rejected four lawsuits against Wall Street banks and the dot.com companies they helped IPO in the heady days of the late nineties.
  • Last week saw the launch of renewable energy underwriting initiatives by Lloyd’s insurer Ascot Underwriting, and ACE European Group in anticipation of growth in the alternative energy sector.
  • Expansive broking and insurance group BMS has made a strong start to 2012 as it looks for revenue growth of 15 percent a year following the £15mn of investment it has ploughed into its operations over the last 18 months.
  • Marsh UK is in the process of scrapping its final salary pension scheme for its staff and ceasing supplementary benefits for all but the highest earners, The Insurance Insider can reveal. The move is the broker’s latest cost-cutting exercise as its...
  • After last year's SFr1.2bn write down of credit swaps, analysts have speculated that Swiss Re could face further losses from sub-prime and credit market exposure ahead of the group’s results due out this Friday.
  • From consolidation to litigation After the breathing space afforded by the onset of the new millennium, consolidation is firmly and dramatically back on the insurance sector’s agenda. Almost simultaneously, CGU announced its £19bn deal with...
  • Bermudian (re)insurer Aspen Insurance Holdings Ltd cut back its premiums during the first quarter as its profits fell by $40.7mn.