News
Greenberg, Foundations, selling AIG Stock
(BestWire) — Maurice “Hank” Greenberg and companies and foundations that he controls are selling shares of American International Group Inc., the giant insurer he once ran, according to documents filed with the U.S. Securities and Exchange Commission as…
AIG to announce restructuring plans on Oct 3 - sources
AIG, the recently bailed-out insurance giant, is set to announce its restructuring plans on October 3, sources familiar with the situation told Reinsurance.
Axis Capital reveals exposure to Lehman and AIG
Axis Capital has said that it has $34m of exposure to collapsed US investment bank Lehman Brothers, as well as $18m to the operating subsidiaries of AIG.
Axis Capital says Gustav, Ike exposure $310-430m
Bermudian reinsurer Axis Capital said that preliminary net loss estimates for Hurricanes Gustav and Ike range from approximately $310-$430m, net of reinstatement premiums.
Friends Provident announce new online seminar
Friends Provident will be hosting its next online seminar on 8 October.
IFA Life teams up with Standard International
IFA Life has teamed up with Standards International to assist IFAs to achieve ISO 22222 certification.
RSA share price up as bid rumours circulate again
RSA shares jumped again today as rumours continued to circulate that it is a bid target.
PB Week: Calling all broker managers
Professional Broking , the management magazine for insurance brokers, has arranged four management events across the country in October - free to UK’s general insurance broker managers, and we hope to see you there to discuss some interesting times,…
Groupama expands SME offering
Groupama Insurances has enhanced its Optima Trade Plus and Optima Trade and Professional products for the small to medium-sized enterprise sector.
PWC responds to FSA Solvency II paper
Pricewaterhouse Coopers has responded to the Financial Services Authority's report on Solvency II, saying it agrees with the regulator's call for board ownership of the project within insurers.
Towergate in talks over bank covenants
Towergate is in talks with its banks HBOS and Lloyds TSB over renegotiating its covenants for "technical reasons".
Congregational and Hiscox reveal strategic partnership
Congregational and General Insurance and Hiscox have reached agreement to enter into a strategic partnership.
US government will take back seat in AIG management, says S&P
Standard and Poor’s does not expect the US government to take an active role managing AIG - other than appointing a new chief executive officer - when its “unprecedented agreement” to offer the insurer an $85bn secured loan facility is closed.
Management consultancy firm offers new facility for credit hire industry
Validus-IVC has launched a specialist claims analysis and settlement facility for companies receiving credit hire and repair claims and has estimated that it could make annual savings of over £150m for motor insurers, solicitors and fleet operators by…
Erosion of confidence in AIG prompting commercial policyholders to look elsewhere - Marsh
(BestWire) — An erosion of confidence in American International Group is prompting commercial policyholders to question whether to hold onto AIG insurance coverage or seek new insurance underwriters, according to a webinar held Sept. 24 by worldwide…
FSA issues Solvency II discussion paper
The Financial Services Authority has issued the discussion paper: 'Insurance Risk Management - The path to Solvency II'.
Congregational and Hiscox join forces
Congregational and General Insurance and Hiscox have reached agreement to enter into a strategic partnership.
Lloyd's sees interim profit almost halved to £949m
Lloyd's recorded a profit before tax of £949m for the first six months of 2008 (2007: £1807m).
Ask the expert
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Fear makes sick go to work
Almost three quarters (72%) of Brits go to work despite feeling so ill they could legitimately stay ...
IFS diploma offering
The IFS School of Finance and awarding body Education Development International are jointly offering...
Glass ceiling turns opaque as women seek wage parity
Pay equality between the sexes is so far off that female professionals are looking at an opaque, rat...
Pick of the week
Post editor Jonathan Swift looks at the major stories from the general insurance market. This week: G...
Complacency may see 1000 declined cover
Insurers have blamed broker and client complacency for the large number of solicitors still struggli...