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  • American International Group (AIG) has pushed through restructuring at Chartis with a management shake-up that brings in risk management executive Peter Hancock for CEO Kristian Moor.
  • The three major global reinsurance brokers' 1 April renewal reports present differing portraits of the pricing outlook following the record run of first-quarter catastrophe losses.
  • Ariel Holdings will remain a private company after Validus withdrew its interest, The Insurance Insider understands.
  • BP Marsh & Partners and London market stalwart Michael Wade have completed a deal to take a combined majority stake in London market broker Besso, as first predicted by The Insurance Insider.
  • International direct and facultative writers face mounting contingent business inter-ruption (CBI) claims stemming from major supply-chain disruption for global companies such as Sony Ericsson, with excess layers reinsured outside of Japan.
  • As reported losses from (re)insurers attributable to the 11 March Japan earthquake continue to escalate, sources suggest direct and facultative writers are exposed to a potential loss of around $1bn from the international property cover for the East Japan Railway Company (JR East).
  • The liability claims that will follow the Fukushima Daiichi nuclear disaster are likely to land on the Japanese government, despite reassurances from Prime Minister Naoto Kan that there is no intention of nationalising the Tokyo Electric Power Company (Tepco).
  • Japanese carrier Zenkyoren is likely to receive the full $300mn coverage from its Muteki catastrophe bond for losses suffered in the Tohoku earthquake, according to Moody's.
  • Total loss estimates from the Japanese earthquake pushed well past $6bn last week as international (re)insurers lined up to give investors greater clarity on their exposures.
  • XL China subsidiary opens; Irish take downgrade hit; Brown & Brown take First Horizon; Aviva's Espana prop-up...