AIG
Liberty Mutual and General Re settle dispute
Liberty Mutual has resolved a dispute in which it accused the General Re, the reinsurance unit of Berkshire Hathaway of fraud, according to a court filing.
SFO drops AIG case
The Serious Fraud Office has dropped an investigation into the UK operations of AIG Financial Products.
More analysts warn on Prudential’s AIA deal
A chorus of opposition is growing against Prudential's $35.5bn takeover of AIA, with analysts from Singapore to London flagging risks to the deal just weeks ahead of the critical shareholder vote, according to newswire Reuters.
Aviva trains sights on specialty lines
Aviva's new chief underwriting officer Axel Schmidt has revealed a wide-ranging plan to broaden its risk appetite by concentrating on areas it is currently under strength in, including local authority insurance.
Chartis, QBE and Dual back £1bn GWP private equity start up
The British Private Equity and Venture Capital Association has today launched BVCA Insurance Services to help members and their investee companies with their insurance needs.
Transatlantic demands $350m arbitration from AIG
AIG’s former reinsurance unit, Transatlantic Holdings, filed a demand for arbitration against the company tied to losses of more than $350m from securities lending.
BIBA 2010: What did you miss?
Catch up with all the news from the British Insurance Broker’s Association conference.
NIG names six new underwriters
NIG has attracted specialist area underwriters from RSA, Chartis, Allianz and Zurich Municipal to join its motor, property and liability teams.
Allianz tops Towergate service survey
Latest research conducted by Towergate Risk Solutions has revealed Allianz as the top performing key insurer servicing its broking operations.
Biba on flim: Insurance leaders views on the new UK government
Insurance Age reporter Liz McMahon tracked down key industry figures at this week's Biba conference to get their reactions - and hopes - for the new coalition Government
Survey - Insurance buyers: Making decisions
Elizabeth Duffy reveals the results of recent research into what corporate risk managers look for when selecting a broker partner — and what frustrates them.
Prudential starts $21bn delayed offering
Rights' offer to fund the purchase of AIG’s Asian unit, AIA, after a 12-day delay has fuelled speculation that the deal will fail.
Chartis: FSA, SFO and HSE investigations of most concern
Companies are most concerned about the threat of investigations by official bodies, according to delegates at a seminar held by Chartis Insurance UK.
Pru and AIG in talks on restructuring AIA sale
AIG and Prudential are in advanced talks to restructure the $35.5bn sale of AIA, the AIG’s Asian unit, in a move that would cut the cash consideration by about $2bn but could answer UK regulators’ last-minute objections to the deal according to the…
AIG approves $380m bonuses in 2010
AIG has approved a plan to award executives $380m based on their performance according to newswire Bloomberg.
New IFB director seeks new income streams
Generating more income for the Insurance Fraud Bureau will become the top priority of newly appointed director Glen Marr, according to IFB chairman David Neave.
Oil spill could cost $3.5bn
The Deepwater Horizon oil slick approaching the Louisiana coastline could cost the insurance industry $3.5bn (£2.3bn).
Approval of Chubb's move into Lloyd's market imminent
US insurance giant Chubb is set to enter the Lloyd's market almost a decade after its failed bid to buy Hiscox. According to sources, Chubb has received conditional approval for market entry with full authorisation following a Financial Services…
Fairholme increases AIG stake
Fairholme Capital Management, the investment firm run by Bruce Berkowitz, has raised its bet on the recovery of AIG by increasing holdings to 25.5 million shares, following the release of the insurance giant’s first quarter results.
Prudential takeover of AIA given go ahead by FSA
Prudential saved its takeover of AIG’s main Asian unit after reaching an agreement with the UK regulator, the Sunday Times has reported.
AIG reports net income of $1.5bn
AIG has reported net income of $1.5bn for the first quarter of 2010, or $2.16 per diluted common share, compared to a net loss of $4.4bn in the first quarter of 2009.
Chartis' Marr appointed IFB director
The Insurance Fraud Bureau has named Chartis vice president of financial crime Glen Marr as its new director.
Chubb Europe appoints European accident and health manager
Chubb Europe has appointed Steven Ord as European accident and health manager.
Chartis CEO mulls options for European HQ
Lex Baugh, president and chief executive of Chartis Europe Holdings, has refused to rule out any insurance centre on the continent as a possible headquarters for the newly established group.