September 2008/5

AXIS Capital estimates that its net loss exposures to Hurricanes Gustav and Ike will be between $310-$430mn, adding to the industry's toll of heavy 2008 catastrophe losses and providing further evidence of the damage wreaked by Ike earlier this month.

American International Group Inc (AIG) drew down $28bn from the $85bn US government bail-out loan facility before it announced it had signed the agreement last week.

American International Group Inc (AIG) subsidiary Lexington Insurance Company moved to reassure nervous policyholders and brokers last week by announcing on 26 September that it had arranged contingent property reinsurance cover from Berkshire Hathaway, i

Carl Phillips, currently head of operational services at Amlin will be joining Lloyd's to head up its market operations, The Insurance Insider has learnt.

London-based company market (re)insurance trade body, the International Underwriting Association (IUA) has welcomed proposals for a new reinsurance regulatory framework agreed by the reinsurance task force of the National Association of Insurance Commissi

Lloyd's has shortened the list of potential providers for its new messaging hub to three, The Insurance Insider has learnt.

Alice Schroeder's biography of Warren Buffett "The Snowball - Warren Buffet and the business of life" has gone on sale today (29 September) as the actions of its subject continue to dominate the headlines.

The Lloyd's sidecar vehicle, Managing Agency Partners (MAP) Syndicate 6103, intends to renew its capacity into 2009.

Property Claims Services (PCS) is due to publish an initial loss estimate for Hurricane Ike's onshore damage later this week - and the evidence is increasingly pointing to a $10bn+ loss.

Hank Greenberg, the former American International Group (AIG) chief executive, sold 40 million shares in the fallen insurer, netting around $126mn last week.

Western governments are continuing their rescue of financial institutions with the EUR11.2bn bail-out of Benelux banking and insurance giant Fortis yesterday and confirmation of the nationalisation of UK mortgage lender Bradford & Bingley (B&B).