Unconfirmed and as yet un-named new insurer with capital of more than $1 billion and said to be set up by American International Group Inc., Chubb Corp and Goldman Sachs Group Inc. Said to be property/casualty with an estimated 200 employees.

Arch Capital Group Ltd. to set up Arch Reinsurance backed by two private equity firms, Warburg Pincus and Hellman & Friedman, which would invest a total of $750 million in shares and warrants in Arch Capital. The new venture currently has about $500 million in capital.

RenaissanceRe Holdings Ltd. is setting up a new venture called DaVinci Reinsurance Ltd. with $500 million backing from investors, including State Farm, the largest U.S. insurer.

Insurance broker Marsh & McLennan Cos. Inc. has also set up new firm, Bermuda-based Axis Specialty Ltd., to offer property, aviation, war and other insurance.

Aon Corp. has added some property and reinsurance lines to its own underwriting unit, Combined Specialty Corp.