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September 2008/4

  • Leading shareholders in beleaguered American International Group Inc (AIG) are set to meet today in a bid to come up with an alternative plan to the $85bn federal government bail-out that would effectively nationalise the US giant.
  • Swiss Re is backing Galileo Underwriting LLP, a new equine bloodstock underwriting agency based in London, The Insurance Insider can reveal.
  • The financial markets meltdown - which has led to the rescue of American International Group, the collapse of Lehman Brothers and the effective end to the investment banking industry...
  • After a week of unparalleled upheaval in the financial world, the US Federal Reserve last night effectively signalled the end of the investment bank model as it agreed to convert Morgan Stanley and Goldman Sachs Group...
  • Market figures and commentators have offered contrasting views on the perceived market opportunities in the wake of last week's US Government led bail-out of American International Group (AIG).
  • Reinsurance broker US Re Corp has appointed former Generali executive Riccardo Nicolini as senior vice president.
  • Chris Wallace the head of the commercial client practice at Marsh UK has left the company "to pursue other interests", The Insurance Insider has learned.
  • The New Jersey based run-off commutations event which takes place next month is poised to be the largest yet with around 450 delegates now expected.
  • Global electronic banking payments specialist SWIFT is to provide an electronic platform for electronic data transmission to a group of major reinsurance players.
  • US broker Arthur J. Gallagher has announced the acquisition of London-based underwriting agency Oxygen Insurance Managers Ltd, from its broker parent Oxygen Holdings Plc, as previously revealed by The Insurance Insider.
  • Ariel Reinsurance Company Ltd has appointed Ryan Mather to the newly-created role of chief underwriter, property reinsurance.
  • AIM-listed Randall & Quilter Investment Holdings plc has announced the acquisition of the parent company of run-off group KMS Group of Companies for £1.78mn, as it continues to eye further acquisitions.
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