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  • US prosecutors have charged three former executives from Berkshire Hathaway’s General Re and one from American International Group (AIG) over fraudulent reinsurance transactions alleged to have been used to massage AIG’s accounts.
  • Process reform in the London Market took a major step forward last week (19 September) with the launch of a repository for Electronic Claims Files (ECF).
  • Insurance giant Zurich Financial Services (ZFS) has poached Mario Vitale from broker Willis to head up its Global Corporate North America Operations.
  • Quoted Lloyd’s insurers Hardy Underwriting Group plc and Advent Capital Holdings plc are taking the final steps towards achieving the buy-out of remaining Names’ capital.
  • Price Forbes Ltd, the London-based international wholesale operation owned by Marsh & McLennan Companies Inc, has been spun-out of the broking giant via a management buy-out, The Insurance Insider revealed last week (21 September).
  • Failed (re)insurer Alea Group Holdings Ltd announced a post-tax loss of $10.7mn for the first half of 2006 last Wednesday (20 September) as it continues its transition to run-off.
  • US insurer Allstate has announced the timetable for the appointment of Thomas Wilson, who succeeds Edward Liddy as its CEO at the end of the year.
  • Catastrophe modelling agency Risk Management Services (RMS) has said that the formation of an El Niño in the eastern Pacific will not alter its medium-term hurricane forecasts.
  • Swiss reinsurer Glacier Re announced on 22 September that it has appointed María Arana Antelo as energy underwriter.
  • Max Re Capital Ltd is the latest new market in the aviation sector with the arrival of former La Réunion Aérienne underwriter Olivier Marre.