AIG bid-rigging settlement
AIG has settled with the Pennsylvania Insurance Department for $13.5m over bid-rigging and false financial information allegations. The payments relate to the department's investigation into financial misreporting involving AIG’s alleged false reinsurance deal with General Re Corp.
K-nect system launched
Kaupthing Singer & Friedlander Premium Finance has launched a new trading system, called K-nect.
CCV buys Berkeley Alexander
Cullum Capital Ventures (CCV) has announced its latest acquisition – the purchase of Sussex-based Berkeley Alexander. Berkeley Alexander controls gross written premiums of over £10m and specialises in the wholesale of general insurance products to the mortgage broker and IFA sectors through a base of 6,500 agents across the UK.
Oval wins court pay-out
Oval has been granted a substantial six-figure pay-out following its successful court proceedings against Leicester broker Berkeley Burke, as revealed by Insurance Times in February. In a statement Oval said four former employees joined Berkeley Burke from Oval’s Luton office, taking with them a number of Oval’s clients with without consent.
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.
