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  • Years of political hostage taking and stalemate over Solvency II finally came to an end last week.
  • Five and a half months after its previous cover expired, Venezuelan state-owned hydrocarbon company PDVSA is inching closer to securing new insurance cover with Panama-domiciled Barents Re as the lead, The Insurance Insider can reveal.
  • Lloyd's (re)insurer Chaucer is set to part company with the head of its energy division, Chris White, The Insurance Insider has learned.
  • The hull of the Tatarstan Airlines Boeing 737 jet that crashed in Russia at the weekend was insured for $9.5mn, with the cover brokered by Willis and shared between underwriters in London and Russia, according to aviation market sources
  • Super Typhoon Haiyan, the tropical cyclone that devastated parts of the Philippines earlier this month, will inflict losses of between $300mn and $700mn on the insurance industry, according to risk modelling firm AIR Worldwide
  • A series of powerful tornadoes struck the US Midwest over the weekend, killing at least six people and injuring over 40, damaging buildings and disrupting power supplies, according to reports
  • British composite insurer Aviva has agreed to sell its 39 percent stake in Italian life insurer Eurovita Assicurazioni to US private equity firm JC Flowers for EUR33mn ($43mn) in cash, it announced today (18 November).
  • Embattled US insurer Tower Group has written to "valued business partners" in an attempt to reassure them that it will be able to repay its bank debts, securing its future as a going concern.
  • US specialty insurer RLI yesterday (14 November) said it would return a total of $65mn to investors via a special dividend of $3 per share, citing its "strong" financial performance
  • Citadel, the giant Chicago-headquartered hedge fund run by Ken Griffin, was among the investors in Bermudian reinsurer Third Point Re's $317mn initial public offering in August.