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  • Proposals to downsize Florida's cat fund and residual insurer Citizens failed last week as the state's legislative session closed on Friday (9 March)
  • The latest bout of flooding in south eastern Australia as prompted industry body the Insurance Council of Australia (ICA) to declare widespread areas of New South Wales (NSW) as catastrophe zones.
  • Bermudian reinsurer Validus Holdings is to lose a long-serving director on its board. Sander Levy has resigned and will step down on 2 May.
  • European Commission (EC) head of insurance and pensions Karel van Hulle has defended Solvency II against criticism from UK Prime Minister David Cameron, pointing to the fact that "all parties were involved" during the development process.
  • Jardine Lloyd Thompson (JLT)'s wholesale broker Lloyd & Partners has reported 2011 full-year profits of £14.3mn - up 14.7 percent on the preceding year
  • The US Treasury is selling up to $6bn of American International Group (AIG) stock, of which AIG plans to repurchase $3bn, as the parties work towards a further repayment of the insurer's debt to the US government.
  • Generali Re has agreed to sell its 69.1 percent stake in Migdal, Israel's largest insurer, for EUR835mn in cash to businessman Shlomo Eliahu
  • One year after the devastating Tohoku earthquake, the industry’s largest property cat reinsurance programme Zenkyoren is in the market ahead of the 1.4 renewal with firm order pricing showing a sizeable hike in the rate on line.
  • Unsurprisingly in such a heavy year for cat losses, The Insurance Insider Data Room's composite of publicly quoted Lloyd's underwriters lost money in 2011. The Insurance Insider has a comprehensive analysis of the quoted Lloyd's sector
  • Closing results for 2009 from non-aligned Lloyd's syndicates have come in ahead of forecasts, with top performer QBE Syndicate 386 reporting a 43.1 percent profit on capacity