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  • American International Group (AIG) has been given the go ahead to proceed with a lawsuit against its former CEO, Maurice 'Hank' Greenberg, over claims he "misappropriated" millions of AIG shares.
  • In a deal with European private equity firm Astorg Partners unveiled last week, Willis neatly avoided the $400mn sword of Damocles that has hung over the company's balance sheet in the form of a financial obligation to consolidate its French broking affiliate Gras Savoye.
  • Omega has said there is no reason why the original tender deal it concluded with Mark Byrne should not go ahead, as it seeks to maintain the moral high ground in the very public dispute between the two parties
  • Bermudian-headquartered (re)insurer Aspen Insurance Holdings Ltd reported net third quarter profit of $95mn, or $0.94 per share, on 25 October.
  • CNA, the seventh biggest commercial insurer in the US, suffered a negative set of Q3 results after incurring a post-tax loss of $294mn from the impact of recent catastrophes, primarily Hurricane...
  • The US Securities and Exchange Commission (SEC) has filed a suit in a DC court asking for the Securities Investor Protection Corporation (SIPC) to be made to act to protect investors that lost money through the alleged Ponzi scheme administered by Allen Stanford's US broker-dealer.
  • Recently aired views on declining property rates were backed up last week by a survey from the Risk Insurance Management Society (RIMS) in the US, which found that the cost of premiums fell 8.8 percent in the final quarter of 2003.
  • Insurance specialist law firm Ince & Co has made a number of senior appointments following the decision of senior partner Peter Rogan to step down this month.
  • Falling contingents, increased expenses and continued organic retrenchment pushed expansive US retail broker Brown & Brown's second quarter net income down more than 10 percent.
  • Wellington are planning a 50 percent increase in capacity after agreeing terms for quota share reinsurance and a new parallel syndicate.