Insurance has generated its fair share of sparks in recent weeks. The whole market is talking about financial performance in the wake of American International Group posting fourth-quarter earnings nearly eight times higher than a year ago, with property and casualty insurance the star performers.

In the legal sector we saw a flurry of lateral insurance hires. Most notably Lovells launched a contentious insurance practice in Spain last month after hiring Joaquin Ruiz Echauri from Ernst & Young Legal. And Ross Bundey from Clifford Chance‘s Singapore office has joined insurance investor and services provider Whittington Group as group general counsel.

This Insurance Special Report examines the expectations for the forthcoming Solvency II regime and whether claims process reform will eradicate false claims. It also debates how to address the tax problems thrown up by cross-border insurance transactions.