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  • Willis chief executive Joe Plumeri has earned around $50mn this year from selling over a third of his holding in Willis, the broker he has revitalised since joining in 2000.
  • Allianz Australia agreed last month to pay A$120mn to the creditors of HIH, the Australian insurer which collapsed in 2001 with debts of around A$6bn.
  • Equity analysts at Morgan Stanley have questioned the more bullish comments relating to AIG’s performance, including its ability to harvest earnings from p/c reserves and its earnings leverage to improved economic conditions and rising interest rates.
  • The Munich Re subsidiary American Re has reported a net loss of $506.5mn for the third quarter of 2001.
  • Dutch retail giant Royal Ahold announced on Friday (16 July) that it had reached a settlement with AIG of all outstanding litigation relating to $100mn D&O coverage of its US Foodservice subsidiary.
  • World’s largest insurer AIG announced last Wednesday (19 May) that it had raised its quarterly dividend by 15 percent from 6.5 to 7.5 cents a share, the third increase in the last year.
  • More than 1,000 people are thought to have perished in the massive earthquake which struck a small island off western Indonesia yesterday – a mere 100 miles from the epicentre of the Boxing Day earthquake that left 280,000 people dead or missing across As
  • US insurer Allmerica has announced the extent of likely incurred catastrophe losses following the recent spell of severe weather over the Michigan area.
  • Q3 results ‘raise more questions than answers’, according to analyst More questions have been raised about the accuracy of financial reporting at Canadian holding company Fairfax.
  • Trenwick Group Ltd has reported its third quarter 2001 results, blaming the 11 September attacks for the downturn. For the first nine months of the year the group reported an overall loss of $128mn, although premium incomes were up (gross $1,061mn and net