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  • Former General Re senior vice president Richard Napier has lifted the lid on the allegedly sham finite reinsurance deal with American International Group.
  • Wellington Underwriting Plc saw its pre-tax profits fall by a third to £78.1mn (2003 £116.7mn) but raised its dividend on the back of strong underwriting returns.
  • Aon Corp posted flat fourth quarter net income of $224mn with broking revenues up 7 percent to $1.5bn in its annual results.
  • Moody's has said that its downgrade today (24 August) of the Japan Government Bond (JGB) rating to Aa3 from Aa2 will not directly affect the Aa insurance financial strength (IFS) ratings of three Japanese P&C insurers.
  • Lloyd’s insurer Amlin reported this morning (2 March) a record result of 25.4 percent for the 2003 year of trading on Syndicate 2001, beating the previous record of 21.7 percent on the 2002 account. The company said the result, achieved on a capacity..
  • Chubb Corp has agreed to pay $239,011 to resolve allegations that it offered improper incentives to a brokerage firm in order to steer business its way.
  • LCL Group, the London based run-off group acquired by Charles Taylor Consulting plc last year, has been retained to advise Alea Group to run-off its European and US operations. The move follows Alea’s decision to cease underwriting...
  • Japanese insurer Sompo Japan Insurance Inc has been ordered to suspend most of its operations at all of its domestic offices for a fortnight as a result of illegal sales practices.
  • The beleaguered broking giant MMC took further steps to improve its corporate governance rating last month by firing five senior executives from its board of directors last week.
  • Last week’s first round of half year results from Bermudian post 9/11 start-ups signalled an even stronger performance than last quarter. However, there were signs that increased competition is starting to drive down rates in some specialty reinsurance li