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  • US insurer Chubb reported fourth quarter 2004 net income of $467.6mn or $2.39 a share last Tuesday (1 February), a significant improvement on the $72.3mn or $0.38 a share it booked in the same period of 2003 as lower asbestos charges and the turnaround of
  • New York state governor and former attorney general Eliot Spitzer has been caught arranging to meet a high-priced prostitute at a Washington hotel last month, according to reports from the New York Times.
  • German financial watchdog BaFin has named Gabriele Hahn as its new head of insurance regulation.
  • Crisis-hit Converium today (31 August) announced plans to raise $420mn in a share issue after an independent actuarial review revealed the reinsurer’s reserves were $212.9mn short – even after its shock $385mn second quarter reserve charge.
  • Bermuda could be in line for an influx of financial guarantee reinsurers following the sub-prime mortgage crisis, according to The Bermuda Monetary Authority (BMA).
  • Aon Risk Services has launched a mergers & acquisitions (M&A) service for private equity, sovereign funds, business-to-business, real estate and infrastructure funds based in its Dubai office.
  • 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.
  • Catastrophe modelling firm AIR Worldwide has estimated that the (re)insurance industry could lose up to $8bn as a result of the second Christchurch earthquake, a figure roughly equal to the Chilean quake that proved the most costly catastrophe of last year
  • Telecommunications giant AT&T has filed a lawsuit against 15 insurers over allegedly unpaid property damage and business interruption claims relating to 9/11.
  • Two US agencies appear set to clash in the courtroom after the Securities Investor Protection Corporation (SIPC) again rejected demands that it compensate investors in Allen Stanford's alleged Ponzi scheme.