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CEO Says AIG 'Poised Well For The Future' After Share Sale

Insurers

American International Group Inc. Chief Executive Officer Robert Benmosche said the insurance company is "poised well for the future" after the latest share sale by the U.S. government . Benmosche, speaking without notes at the company's annual shareholder meeting in New York Wednesday, said the company had momentum after the sale of shares earlier this month showed investors were interested in...

Securities Lawyers: Dewey & LeBoeuf's $125 Million Bond Sale Could Spark Insurer Litigation	Business & Economy
Dewey& LeBoeuf, a law firm known for representing some of the country's largest insurance companies, might face lawsuits stemming from the firm's 2010 sale of $125 million in bonds to investors, many of which were large insurance companies, according to securities lawyers. If Dewey& LeBoeuf, which has seen massive partner defections, is ultimately forced to...

JPMorgan hit with shareholders lawsuit over loss	Business & Economy
US fund manager Saratoga Capital Management, filed a class-action lawsuit against JPMorgan Chase Wednesday after the nation's largest bank lost more than $2 billion in derivatives trading. The suit said the economic loss suffered by the plaintiffs was "a direct result of defendants' fraudulent scheme to artificially inflate the price of JPMorgan common...

Insurance Australia Considers Selling UK Operations	Insurers
Insurance Australia Group Ltd. said Thursday it is considering selling its U.K. operations, which include the nation's fifth largest motor insurer Equity Red Star and commercial insurance broker Barnett & Barnett.

Deutsche Boerse CEO: Merger Costs Include EU Legal Challenge Costs	Business & Economy
Deutsche Boerse AG's expenses for the planned merger with NYSE Euronext, which eventually was vetoed by the European Union, include legal costs for challenging the EU decision, Reto Francioni, the exchange operator's chief executive, told shareholders Wednesday.

Advisen Did You Know: 2012 Property Insights Conference on Tues June 5	Did You Know
Advisen's first annual Property Insights Conference in New York on Tuesday, June 5. View the full program here. Risk Managers and Insurance Buyers attend free of charge. Our sponsors: Swiss Re Corporate Solutions, Dempsey Partners, NAPCO LLC, EQECAT.

HEARD ON THE STREET: Insurers Could See Greek Exit Wounds	Industry Analysis
"Greece is basically irrelevant." That's how Allianz described its exposure to the struggling country at its first- quarter earnings on Tuesday. Europe's insurers have been rapidly reducing their Greek exposure. Still, insurers are already suffering from Europe's broader debt woes.

Axa shows interest Turkish Finans Emeklilik - report	Business & Economy
Axa will have to compete probably with Sompo Japan Insurance Inc and Dutch Aegon, according to reports published by Reuters in March. Finans Emeklilik is currently controlled by Turkish bank Finansbank, which is owned by National Bank of Greece. It hopes, however, to reach at least 10%, Jean-Laurent Granier, the head of the Mediterranean and Latin America Region...

German Talanx Q1 net profit soars to EUR 211m	Earnings
-May 16, 2012- Germany's third-biggest insurance group Talanx AG said today it raised its first-quarter net profit to EUR 211 million from EUR 77 million a year earlier due to moderate major losses and improvement in underwriting result and investment income. First-quarter EPS stood at EUR 811 against EUR 297 in the previous reporting period.

Top Murdoch Aide Is Charged in Hacking Case	Business & Economy
LONDON Rebekah Brooks, the former head of Rupert Murdoch s British newspaper empire and a close friend of Prime Minister David Cameron, was formally charged on Tuesday, along with her husband and four others, with perverting the course of justice in the phone hacking scandal that has burrowed deeply into British public life. Brooks and the others tried to hide or...

First-Quarter Premiums Fall as Omega Continues Bermuda Pullback Ahead of Acquisition Vote	Earnings
With $19.4 million of third-party Bermuda business nonrenewed in the first quarter this year, Omega Insurance Holdings Ltd. reported a 6.8% fall in total gross premiums for the quarter from a year earlier. Omega also said its shareholders will vote on an acquisition proposal from Canopius Group Ltd. at a special meeting on June 7. The Canopius deal "represents...

Juniperus Capital CEO: Underwriting-Focused Company Aims for Growth in Collateralized Reinsurance Market	Insurers
Chris McKeown, the new chief executive officer of Juniperus Capital Holdings Ltd., said his company is gunning for growth in the alternative reinsurance market. "We are looking to take advantage of the growing interest in the collateralized reinsurance market both from investors and insurance companies," McKeown said. Companies like Greenlight Capital Re...

Universities Offer Technology, Expertise For Quake Recovery	Risk Management
TOKYO-- Universities are lending their technology to help accelerate the recovery process in areas struck by last year's earthquake and tsunami. Getting a closer look is a system that a team from Iwate Prefectural University developed in fiscal 2008 for monitoring the safety of senior citizens. And to support the devastated seafood processing industry of...

Breach Of Warranty: The Insurer's Burden Of Proof	Business & Economy
The claimant owned an aggregate processing plant on the Thames, near Greenwich. A serious fire broke out at the plant in February 2008.

Bermuda finance: Insurers win premium rises	Industry Analysis
Bermuda finance: Insurers win premium rises. Bermuda market companies will shoulder at least 40% of the reinsurance losses resulting from the 2011 catastrophes, according to the Association of Bermuda Insurers and Reinsurers, which represents 22 international firms. The market took in gross premiums of US $108 bn in 2010, down from US $120 bn in 2009. During...