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  • American International Group (AIG) has filed a lawsuit against its former CEO and chairman Maurice “Hank” Greenberg as part of its long-running legal battle over ownership of shares in the US giant.
  • Bermudian “class of 2001” reinsurer Montpelier Re announced another strong set of quarterly results last Tuesday (27 July), and revealed that chairman, president and CEO Tony Taylor’s tenure will be extended for a further three years up to the end of 2007
  • The Australian financial regulator, the Australian Prudential Regulation Authority (APRA), has banned a series of executives from acting as senior managers or directors in the insurance industry for their part in the collapse of HIH in 2001.
  • Insurance giant Zurich Financial Services (ZFS) reported half-year net profits of $1.96bn, up 9 percent on the first six months of 2005, and ahead of analysts’ consensus of $1.8bn.
  • Asian typhoon Fanapi may cause insurable damages of between $500mn-$1bn, modelling firm Eqecat predicts.
  • Lloyd’s announced further improvements in the market’s use of the mandatory London Market Processes (LMP) slip last Wednesday (9 June) but warned it would turn up the heat to raise the standards of reporting.
  • The investigation of American International Group's (AIG) former chairman and CEO Hank Greenberg over his alleged role in the controversial finite reinsurance transaction that was used to boost the firm's earnings also includes a second deal, according to
  • The laws of European Union countries are moving into line as the effect of insurance directives increases, according to a report by reinsurance broker Guy Carpenter and legal firm DLA Piper.
  • Term life syndicates face additional hurdles, despite personal accident and contingency syndicates writing conceptually similar business.With only one life syndicate open to external members, perhaps its time for a rethink says Laptop.
  • Tysers has bucked the trend for small to mid-size London broker sales to larger rivals and private equity investors, after completing a management buyout transaction to secure its independence.