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  • President of Aon Risk Services (ARS) Ted Devine has stepped down from the firm with immediate effect, The Insurance Insider can reveal.
  • Marsh is in advanced talks to buy UK-headquartered rival HSBC Insurance Brokers Ltd (HSBC) after the world’s third largest bank decided to exit insurance broking, The Insurance Insider has learned.
  • Shares in Lloyd's (re)insurer Chaucer closed 5 percent down today (19 November) after it became the latest firm to admit to a shortfall in its political risk/credit reserves.
  • The bonds between former AIG chief Hank Greenberg's CV Starr and Ironshore continue to tighten with an agreement that will see Starr Aviation Agency underwrite on the Bermudian insurer's paper with immediate effect.
  • Global broker Willis has agreed a definitive deal with private equity firm Astorg Partners to sell down its stake in the French insurance broker Gras Savoye and avoid a potentially onerous obligation to buy-out its existing shareholders.
  • The knotty dispute over defence funds for former Stanford Financial Group (SFG) chief investment officer Laura Pendergest-Holt has deepened, and insurer Arch has been cited in a new writ together with a $90mn excess policy.
  • Bermuda domiciled Hardy Underwriting is making good progress towards its goal to double premium income between 2008 and 2012.
  • Omega Insurance Holdings has confirmed that chairman Walter Fiederowicz is stepping down from the company, with a successor expected to be in place by 1 January 2010.
  • Global broker Aon has given an early vote of confidence in its president and CEO Greg Case, renewing his contract through to April 2015.
  • After shedding its UK arm earlier in the year, as well as combining its European and Bermuda operations, run-off (re)insurer Alea Group is continuing to look for ways to streamline its operations going forwards.