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  • Former American International group (AIG) chairman, Maurice "Hank" Greenberg has called the restatement of four years of the firm's earnings was "flawed".
  • Illinois' Lisa Madigan became the third state attorney-general to increase the pressure on industry giant Liberty Mutual Inc when it filed a lawsuit against the firm alleging unlawful behaviour in relation to undisclosed contingent commissions...
  • A new (re)insurer, Carbon Re, has been set up in Switzerland to provide covers to greenhouse gas emissions-related projects.
  • The capacity shortages for catastrophe reinsurance meant rates were up by around 60 percent on average at the key 1 July renewals with some placements left unfulfilled, according to research by investment house, Keefe, Bruyette & Woods (KBW).
  • Around £800mn has been lost from UK general insurance giant Aviva plc's valuation since it confirmed last week that it is in talks with the £1.3bn US fixed-indexed annuity product producer, AmerUs.
  • Over 1,000 Lloyd's Names have launched a £1bn class-action style legal case against the UK government, led by seasoned campaigner Christopher Stockwell.
  • New York-based Tower Group Inc revealed on 6 July that it will write down $5.4mn on its balance sheet after commuting its outstanding liabilities with the near-defunct Bermudian reinsurer, PXRE Group.
  • German reinsurer R+V has been awarded EUR3,528,357 in damages from the former Lloyd's based managing agency Risk. The award came in a judgement handed down by Mr Justice Tomlinson this morning (10 July) in London's Royal Courts of Justice.
  • Think of SCOR as a P&C reinsurer? Think again. Following SCOR's announcement last week that it has agreed to buy the German life reinsurer Revios in a $775mn deal, SCOR's business mix will be 60 percent life reinsurance and only 40 percent...
  • Liberty Syndicates - one of the largest Lloyd's (re)insurers - parted company suddenly with its managing director Sean Dalton and head of underwriting Andrew Elliot, Insider Week revealed last Friday (7 July).