AIG is under a new investigation from New York attorney general Eliot Spitzer.

The company is now facing renewed investigations into its non-traditional products and "certain assumed reinsurance transactions".

A former AIG employee, John Mohs, has pleaded guilty to charges in connection with bid-rigging.

Last week AIG chief executive Hank Greenberg slammed US regulators or strangling the industry with its over zealous approach.

Aon, meanwhile, has put aside $50m (£26m) to settle Spitzer's investigations. But Aon's chief financial officer David Bolger refused to say whether it would be enough.

"It's what we think is the appropriate number at this time, but it could change because we don't have a settlement," he said.

AIG and Aon both said internal investigations had failed to dig up any evidence of fraudulent behaviour.

' AIG reported net income in the fourth quarter of 2004 jumped 11.5% to $3.02bn (£1.6bn), from $2.7bn (£1.6bn) a year earlier.

The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.