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  • State Farm has announced that claims relating to the severe storms in the US during April and May now stand at $1.75bn, with the total doubling in the last three weeks alone
  • UK motor insurers booked underwriting losses of £2bn in 2010 on an overall net combined ratio of 120 percent, according to figures compiled by Deloitte
  • Institutional ownership of P&C (re)insurer stock changed little during the first quarter of 2011 with investors still characterised as value orientated, low-turnover buyers, according to research by UBS analyst Brian Meredith
  • XL Group has named Peter Porrino as its new CFO, replacing Irene Esteves following her departure from the Bermudian (re)insurer last month.
  • Everest Re has promoted Dominic Addesso to president in a move that will see the executive work closely with chairman and CEO Joseph Taranto.
  • The long-term financial solvency of the National Flood Insurance Program (NFIP) will remain in doubt unless it is able to address the issues currently impeding its performance, the US Government Accountability Office (GAO) has said.
  • The Allstate Corporation expects its Q2 financials to be hit by $2bn of pre-tax catastrophe losses for April and May, including $600mn from catastrophe losses comprising seven events last month.
  • Aon has filed a suit against Alliant after more than 40 of its staff including the CEO of Aon Construction Services Group Peter Arkley moved across to the rival broker, The Insurance Insider can reveal.
  • The European insurance and reinsurance federation (CEA) has elected Sergio Balbinot to serve as president at its general Assembly in Athens yesterday (15 June)
  • Omega's board met yesterday in Bermuda to weigh up the indicative proposals from would-be acquirers, The Insurance Insider understands.