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  • As the fall out from New York attorney general Eliot Spitzer’s investigations into insurance industry practices continues, Swiss based Zurich Financial Services (ZFS) admitted last week that a number of its international operations had used complex...
  • The president and chief operating officer of US broker Hilb Rogal & Hobbs Co. (HRH) resigned last week (26 May) after evidence was uncovered of his involvement in illegal payments in exchange for steering accounts to insurers.
  • Syndicate 33, the Lloyd’s operation managed by Hiscox, today reported unchanged forecasts for the 2003 and 2004 years account. For the 2003 year, the insurer projects a 12.5 to 17.5 percent profit on the Syndicate’s £842mn, 65 percent of which it owns.
  • French reinsurer SCOR today (31 May) revealed a disappointing set of first quarter results, as the repercussions of the crisis it slipped into during the latter half of 2003 continued to dog its recovery.
  • Rostrum Group, the third largest investor in the Lloyd’s quoted insurance stocks, is winding up its involvement in the sector because of a failure to generate consolidation among the companies.
  • Kinnect, the Lloyd’s-backed electronic data transfer initiative, has confirmed that it is recoding its platform for future releases. Speaking to Insider Week, Iain Saville, chairman of Kinnect, said the re-coding aimed to improve the functionality...
  • Embattled insurance giant American International Group moved a step closer to settling with US regulators over allegations of fraudulent business practices with the filing of a civil lawsuit against the firm and its former management duo Hank Greenberg...
  • New York's campaigning attorney general Eliot Spitzer has filed a civil lawsuit against the embattled insurance giant American International Group (AIG) accusing the firm and its former chief executive Hank Greenberg of committing fraud.
  • Don Kramer, the 67 year-old ACE executive has retired from the Bermuda-based insurer.
  • Arthur J Gallagher & Co became the fourth US insurance broker to settle with US regulators following investigations into its business practices which revealed the firm had steered business to insurers in exchange for lucrative payments.