September 2008/4

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.

The Insurance Futures Exchange (IFEX) revealed that from 19 September the Chicago Climate Futures Exchange (CCFE) began listing third and fourth event contracts for all its event linked futures (ELF) contracts.

Jan-Oliver Thofern, the recently appointed head of Aon Re Germany, will lead the reinsurance broker's combined German operations once Aon Corp’s acquisition of Benfield Group is completed later this year.

Non-life (re)insurance stocks continued to bounce back this morning (22 September) as the mooted US government financial market rescue plans and temporary bans on short selling fuelled further buying of global financials.

Negative trading on major worldwide insurance stocks was halted by global regulators last week in an attempt to stabilise stock markets.

American International Group (AIG) chief executive Edward Liddy was parachuted into the embattled organisation last week hoping to retain the firm’s core insurance operations.

A lawsuit from a US pension fund filed last week against American International Group Inc (AIG) and a number of its directors - including recently deposed CEO Robert Willumstad...

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.

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).

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.

Ariel Reinsurance Company Ltd has appointed Ryan Mather to the newly-created role of chief underwriter, property reinsurance.

Loss estimates from Hurricane Ike have been narrowed by two leading catastrophe modelling firms, as loss adjusters continue to count the cost of the damage.