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  • Federal prosecutors in the case involving five former General Re and American International Group Inc (AIG) executives who were found guilty for their part in a sham reinsurance transaction are tying the deal to shareholder losses of $1.4bn.
  • London contingency underwriters were victorious in the High Court last month in demanding that an electronics manufacturer pay over £400,000 in premiums on a policy linked to the performance of the Indian cricket team held up because the Indian authoritie
  • Creditor meetings for the companies to be schemed under the Camomile Pool are set to be held in the spring, after the proposed solvent scheme of arrangement was granted leave to convene by the UK High Court at the end of December.
  • Securities lawsuit filings hit a new record in 2010, despite a significant drop-off in the number of new suits related to the credit crisis.
  • Pressure from US regulators over finite reinsurance continues unabated, with the revelation that Joseph Brandon, chief executive of Berkshire Hathaway’s General Reinsurance unit, has received a Wells notice from the US Securities & Exchange Commission...
  • Willis Corp revealed last week that US regulators have also eased its restrictions on charging contingent commissions, or Placement Service Agreements, when the broker is acting as agent of the (re)insurance seller...
  • The president and COO of US-based independent retail insurance brokerage Frank Crystal & Company has left the firm, The Insurance Insider has learned.
  • Despite increasing second quarter profits by 45 percent to SFr1.2bn over the prior-year, world’s largest reinsurer Swiss Re failed to impress analysts with its figures.
  • Securities lawsuit filings hit a new record in 2010, despite a significant drop-off in the number of new suits related to the credit crisis.
  • Investment analysts at Morgan Stanley have revised earnings estimates upwards for a number of US insurers on the back of improved prospects for the personal auto sector.