Chief executive of AXA-owned broker says position is under daily review

Bluefin, the broker formerly known as Venture Preference, has stopped placing new business with AIG following its financial turmoil.

Chief executive, Stuart Reid, said: “This was in light of what happened yesterday and we’re reviewing our position on a daily basis. We have a risk and security committee who have met every day this week to review the situation on a 24-hour basis. We have another meeting today following the rescue plan from the US authorities and we’re looking to review that position.”

The US Federal Bank confirmed this morning that it was bailing out AIG with an $85bn loan.

See this week’s Insurance Times for more on the Wall Street crisis. See also Saving AIG

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