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  • Four subsidiaries of CV Starr & Co, the managing agency ultimately controlled by former American International Group (AIG) chief executive Maurice "Hank" Greenberg, are suing three AIG employees for attempting to "systematically destroy" their business.
  • Fast expanding Lloyd's (re)insurer Ascot Underwriting is considering setting up an overseas operation to ease the penetration of its products into new markets.
  • ICP Ltd, a proposed new investment vehicle specialising in the Lloyd’s sector, has effectively withdrawn its plan to IPO on London Stock Exchange’s Alternative Investment Market (AIM) after failing to raise sufficient funds.
  • The relentless quest by (re)insurers to manage down their reinsurance exposures has inspired a new approach to crystallising the industry's recoverables.
  • German reinsurer R+V was awarded EUR3,528,357 in damages on 10 July from the former Lloyd's-based managing agency Risk in the latest round of their long-running dispute.
  • Bermudian giant XL Capital announced the latest step in a series of organisational changes on 1 August with plans to develop an integrated European platform for its reinsurance operations.
  • As exclusively revealed by our sister title Insider Week on 24 July, Aeolus Re is to become the latest reinsurer to begin operations on Bermuda following the raising of $500mn of capital.
  • Arrival of Sirocco Re and Timicuan Re takes post-Katrina sidecars over $3bn Lancashire Holdings became the latest company to launch a sidecar with Sirocco Re, a $95mn capitalised vehicle, which will write a quota share of the "Class of 2005"...
  • Fast expanding Lloyd's (re)insurer Ascot Underwriting is considering setting up an overseas operation to ease the penetration of its products into new markets.
  • Private equity firm Stone Point Capital LLC is close to completing the buy-out of Alexander Forbes' International Operations, The Insurance Insider can reveal.