Douglas McLeod (mailto:dmcleod@BusinessInsurance.com)
HARTFORD, Conn.?Former Cologne Re Dublin Chief Executive Officer John Houldsworth understood from his first conversations with General Re Corp. officials about a proposed reinsurance deal with American International Group Inc. that the deal would include no risk transfer, Mr. Houldsworth told a...
HARTFORD, Conn.?Former American International Group Inc. Vp Christian M. Milton told another AIG official that he did not expect losses on a 2000 reinsurance deal with General Re Corp. to exceed the deal?s $500 million premium, even though the contract appeared to transfer up to $600 million in...
HARTFORD, Conn.?Former General Re. Corp. Senior Vp Richard Napier told a jury Thursday that an allegedly fraudulent 2000 reinsurance deal with American International Group Inc. ?had a stench to it,? but he acknowledged that through much of the deal?s development he did not believe he was committing...
HARTFORD, Conn.?A lawyer for former General Re Corp. Chief Financial Officer Elizabeth Monrad attacked the credibility of a star government witness Wednesday, pointing to inconsistencies in the witness? statements about an allegedly phony 2000 reinsurance deal Gen Re struck with American...
HARTFORD, Conn.?A key witness in the trial of five former General Re Corp. and American International Group Inc. executives testified Tuesday about dozens of e-mails and phone conversations that allegedly show that a 2000 reinsurance deal between the two companies was a fraud. Prompted by Assistant...
HARTFORD, Conn.?Former General Re Corp. Senior Vp Richard Napier outlined for a jury Thursday how he and other Gen Re officials developed an allegedly sham reinsurance transaction with American International Group Inc. intended to inflate AIG?s loss reserves by $500 million in 2000 and 2001....
HARTFORD, Conn.?A Morgan Stanley analyst told a jury Wednesday that she would not have upgraded the stock of American International Group Inc. in March 2001 if she had known that AIG?s year-end 2000 reserves included $250 million related to an allegedly sham reinsurance deal with General Re Corp....
HARTFORD, Conn.?Opening arguments were heard Monday in the trial of five former executives of General Re Corp. and American International Group Inc., who are charged with conspiring to inflate AIG?s loss reserves by $500 million with a pair of bogus reinsurance transactions. Assistant U.S. Attorney...
NEW YORK?Federal authorities have charged a former human resources vp of American International Group Inc. and three accomplices with defrauding the insurer of $1.1 million with phony bills for employee search services. FBI agents and local police arrested John J. Falcetta, a former vp with AIG?s...
HARTFORD, Conn.?Lawyers for former General Re Corp. Chief Executive Officer Ronald E. Ferguson are seeking copies of Warren E. Buffett?s communications with two other Gen Re executives at the time the reinsurer entered into an allegedly sham reinsurance deal with American International Group Inc....
