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  • US broker USI Holdings saw its shares leap 8 percent last week after the independent firm admitted it was mulling a private equity buyout offer.
  • Shares in American International Group (AIG) closed down 6.56 percent on Friday after the US insurance giant announced the biggest quarterly loss in its history driven by a $11.12bn pre-tax writedown in its financial products division, AIGFP.
  • Beazley has changed its regulatory capital currency to match its underwriting exposures, increasing the dollar proportion by $487mn.
  • As reinsurance brokers and underwriters await the end of a so far sterile hurricane season to start serious negotiations over 1/1 renewals, warning signs of growing momentum behind the softening market continue.
  • With the 2006 Monte Carlo Rendez-Vous offering relatively benign conditions for networking and negotiations after the travails of 2004 and 2005, discourse last week focussed on the underlying issues facing the industry in a two-paced market.
  • A survey by Towers Perrin has found that the process of integrating Enterprise Risk Management (ERM) into businesses is proving challenging, with significant work still required to utilise economic capital (EC) in decision making.
  • Australian property and casualty insurer QBE has posted a solid 2008 performance compared with its peers, with after-tax profits of A$1.86bn as investment losses were offset by foreign exchange gains.
  • American International Group (AIG) is to refocus as a property and casualty insurance businesses as it looks to generate funds to pay off the outstanding balance on its $85bn government bail-out loan and address its capital structure.
  • Alterra's insurance CEO Angelo Guagliano, has announced his retirement.
  • The global specialty (re)insurance world is a bit like the clientele of a large and successful dating agency. Everyone pays their dues and keeps their profile up to date, but there doesn't always seem to be a lot of action going on for the members. Like all dating agencies the motives for joining are often as varied as the membership.